Wells Fargo & Company Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target hoisted by equities research analysts at Wells Fargo & Company from $220.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.41% from the company’s current price.

FDX has been the topic of a number of other reports. UBS Group lowered their price target on FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a report on Monday, May 19th. Wall Street Zen lowered FedEx from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Cfra Research raised FedEx to a “hold” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $290.00.

FedEx Stock Performance

NYSE FDX traded down $10.72 on Wednesday, reaching $218.80. 1,940,098 shares of the stock were exchanged, compared to its average volume of 1,868,424. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a one year low of $194.30 and a one year high of $313.84. The firm has a market capitalization of $52.42 billion, a PE ratio of 13.72, a PEG ratio of 1.15 and a beta of 1.35. The company’s 50-day simple moving average is $219.11 and its two-hundred day simple moving average is $243.86.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same period last year, the firm earned $5.41 EPS. Analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 207 shares during the period. IFP Advisors Inc raised its holdings in shares of FedEx by 10.7% in the 4th quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider’s stock valued at $1,906,000 after purchasing an additional 652 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of FedEx in the 4th quarter worth approximately $227,000. Delta Financial Advisors LLC boosted its stake in shares of FedEx by 0.9% during the fourth quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider’s stock valued at $2,035,000 after purchasing an additional 65 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in FedEx during the fourth quarter valued at approximately $672,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.