The Goldman Sachs Group Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target decreased by research analysts at The Goldman Sachs Group from $405.00 to $375.00 in a research report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 12.56% from the stock’s previous close.

Other research analysts have also issued reports about the company. Zacks Research lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Citigroup started coverage on FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective for the company. Evercore downgraded FedEx from an “outperform” rating to a “cautious” rating in a report on Wednesday. Morgan Stanley raised their price target on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Finally, HSBC raised shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price objective on the stock in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $395.53.

FedEx Trading Down 19.1%

Shares of FDX stock traded down $78.59 during trading hours on Monday, reaching $333.16. 189,639 shares of the stock traded hands, compared to its average volume of 1,818,576. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $79.50 billion, a PE ratio of 17.73, a PEG ratio of 1.57 and a beta of 1.28. FedEx has a 1-year low of $214.82 and a 1-year high of $413.87. The business has a fifty day moving average price of $376.41 and a 200 day moving average price of $338.62.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.51 EPS. On average, equities research analysts forecast that FedEx will post 19.63 EPS for the current year.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asset Dedication LLC boosted its position in FedEx by 60.7% during the first quarter. Asset Dedication LLC now owns 450 shares of the shipping service provider’s stock worth $160,000 after purchasing an additional 170 shares during the period. Groupama Asset Managment lifted its stake in shares of FedEx by 9.2% in the first quarter. Groupama Asset Managment now owns 3,554 shares of the shipping service provider’s stock worth $1,266,000 after buying an additional 299 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of FedEx during the 1st quarter worth $455,000. CTC Alternative Strategies Ltd. bought a new stake in shares of FedEx during the 1st quarter worth $285,000. Finally, Western Wealth Management LLC grew its stake in FedEx by 186.1% in the 1st quarter. Western Wealth Management LLC now owns 4,840 shares of the shipping service provider’s stock valued at $1,724,000 after buying an additional 3,148 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.