FedEx (NYSE:FDX – Get Free Report) had its price target upped by equities researchers at Citigroup from $373.00 to $374.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Citigroup‘s price objective indicates a potential upside of 17.20% from the stock’s previous close.
FDX has been the topic of a number of other reports. HSBC upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $370.00 price target on the stock in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of FedEx from $399.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday. Sanford C. Bernstein set a $377.00 target price on FedEx in a report on Monday, October 26th. BNP Paribas Exane boosted their target price on FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Finally, UBS Group restated a “hold” rating on shares of FedEx in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.88.
Get Our Latest Analysis on FedEx
FedEx Stock Performance
FDX stock traded up $5.83 during midday trading on Monday, hitting $319.11. 866,512 shares of the stock traded hands, compared to its average volume of 1,985,290. FedEx has a 1-year low of $199.86 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. The stock’s fifty day simple moving average is $304.30 and its 200-day simple moving average is $337.14. The firm has a market cap of $74.73 billion, a P/E ratio of 19.63, a PEG ratio of 1.26 and a beta of 1.27.
FedEx (NYSE:FDX – Get Free Report) last announced its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.40. The firm had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 EPS. On average, analysts expect that FedEx will post 18.28 earnings per share for the current year.
Insider Buying and Selling
In other news, EVP Tracy Brightman sold 26,611 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $316.68, for a total value of $8,427,171.48. Following the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at $3,877,746.60. This represents a 68.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.
Institutional Trading of FedEx
Institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new stake in FedEx in the third quarter valued at approximately $27,000. Covestor Ltd boosted its position in shares of FedEx by 26.7% during the third quarter. Covestor Ltd now owns 351 shares of the shipping service provider’s stock worth $100,000 after buying an additional 74 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of FedEx during the third quarter worth $62,000. Ascent Group LLC grew its stake in shares of FedEx by 53.3% in the third quarter. Ascent Group LLC now owns 2,872 shares of the shipping service provider’s stock valued at $819,000 after buying an additional 999 shares in the last quarter. Finally, Team Financial Group LLC acquired a new stake in shares of FedEx in the third quarter valued at $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
About FedEx
FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.
The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.
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