Raymond James Cuts FedEx (NYSE:FDX) Price Target to $290.00

FedEx (NYSE:FDX - Get Free Report) had its price objective dropped by equities researchers at Raymond James from $320.00 to $290.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the shipping service provider's stock. Raymond James' price target would suggest a potential upside of 19.55% from the company's current price.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. StockNews.com raised shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Finally, BNP Paribas raised shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $300.60.

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FedEx Stock Performance

Shares of FDX traded up $12.25 during mid-day trading on Friday, hitting $242.58. 2,129,709 shares of the company's stock were exchanged, compared to its average volume of 1,824,617. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $58.43 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock's 50-day simple moving average is $259.95 and its 200-day simple moving average is $272.35. FedEx has a 52 week low of $217.22 and a 52 week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.86 earnings per share. On average, equities research analysts expect that FedEx will post 19.14 EPS for the current year.

Insider Transactions at FedEx

In other news, Director Amy B. Lane purchased 333 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC purchased a new stake in FedEx during the fourth quarter worth about $26,000. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter worth about $28,000. City Holding Co. purchased a new position in FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Institutional investors own 84.47% of the company's stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.