FedEx (NYSE:FDX) Given New $260.00 Price Target at BMO Capital Markets

FedEx (NYSE:FDX) had its price objective cut by equities researchers at BMO Capital Markets from $275.00 to $260.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 15.60% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and dropped their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. UBS Group cut their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Finally, Stephens cut their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $297.00.

FedEx Trading Down 2.0%

Shares of NYSE FDX traded down $4.59 during mid-day trading on Monday, hitting $224.92. 172,999 shares of the company traded hands, compared to its average volume of 1,804,811. The business has a 50 day moving average of $222.96 and a two-hundred day moving average of $256.41. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.11 and a beta of 1.36. FedEx has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS 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 analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.86 EPS. On average, sell-side analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other 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 value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Regal Investment Advisors LLC boosted its stake in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 38 shares in the last quarter. Cetera Trust Company N.A grew its holdings in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Griffin Asset Management Inc. increased its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares in the last quarter. Aviso Financial Inc. lifted its holdings in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Finally, Garner Asset Management Corp grew its stake in FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after buying an additional 41 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.