Wells Fargo & Company Lowers FedEx (NYSE:FDX) Price Target to $220.00

FedEx (NYSE:FDX) had its price target decreased by equities researchers at Wells Fargo & Company from $260.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.21% from the company’s current price.

A number of other equities analysts have also commented on FDX. TD Cowen reduced their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Raymond James dropped their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and lowered their price target for the company from $300.00 to $275.00 in a report on Monday, March 24th. Citigroup lowered their target price on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.96.

FedEx Price Performance

FedEx stock opened at $205.21 on Tuesday. The business has a 50 day simple moving average of $237.90 and a 200 day simple moving average of $263.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $49.17 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx has a one year low of $194.30 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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 firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.86 EPS. On average, sell-side analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several hedge funds and other institutional investors have recently made changes to their positions in FDX. Fortitude Family Office LLC grew its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new position in shares of FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the 4th quarter worth about $28,000. 84.47% of the stock is owned by institutional investors.

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.