FedEx (NYSE:FDX) Price Target Cut to $340.00

FedEx (NYSE:FDXGet Free Report) had its target price cut by equities research analysts at Bank of America from $346.00 to $340.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Bank of America‘s target price would indicate a potential upside of 21.37% from the company’s previous close.

Other analysts have also issued reports about the stock. Barclays raised their price target on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group lifted their target price on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. Raymond James decreased their target price on shares of FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 20th. Finally, StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $300.85.

Get Our Latest Stock Report on FedEx

FedEx Stock Performance

NYSE:FDX opened at $280.13 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $68.93 billion, a PE ratio of 16.16, a PEG ratio of 1.37 and a beta of 1.21. The firm’s fifty day simple moving average is $251.41 and its 200 day simple moving average is $252.84. FedEx has a 1 year low of $213.80 and a 1 year high of $291.27.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $3.41 EPS. On average, sell-side analysts anticipate that FedEx will post 17.6 EPS for the current year.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark R. Allen sold 10,145 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the transaction, the executive vice president now owns 36,853 shares of the company’s stock, valued at approximately $10,587,129.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,393 shares of company stock worth $5,581,475. 8.73% of the stock is currently owned by company insiders.

Institutional Trading of FedEx

A number of institutional investors have recently made changes to their positions in FDX. Sentry LLC bought a new stake in shares of FedEx in the fourth quarter worth $1,811,748,000. Norges Bank bought a new stake in FedEx during the fourth quarter worth $700,291,000. Mizuho Markets Americas LLC bought a new stake in FedEx during the third quarter worth $496,611,000. FMR LLC raised its position in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Finally, Capital International Investors raised its position in FedEx by 15.2% during the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after acquiring an additional 880,894 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.