TD Cowen Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX - Get Free Report) had its price objective cut by stock analysts at TD Cowen from $337.00 to $310.00 in a research report issued on Friday, MarketBeat reports. The brokerage presently has a "buy" rating on the shipping service provider's stock. TD Cowen's target price would suggest a potential upside of 27.79% from the stock's current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday. Truist Financial initiated coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a "buy" rating and a $305.00 target price on the stock. Sanford C. Bernstein cut FedEx from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday. 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $300.60.

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FedEx Stock Performance

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

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

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares of the company's stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company's stock.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mascagni Wealth Management Inc. bought a new position in FedEx in the fourth quarter valued at approximately $70,000. 111 Capital bought a new stake in FedEx during the fourth quarter worth $508,000. Wealth Enhancement Advisory Services LLC lifted its stake in FedEx by 69.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider's stock valued at $21,515,000 after acquiring an additional 31,376 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of FedEx by 2.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider's stock worth $5,493,000 after purchasing an additional 491 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of FedEx in the 4th quarter valued at about $44,690,000. Institutional investors own 84.47% of the company's stock.

About FedEx

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.