FedEx (NYSE:FDX) PT Lowered to $250.00

FedEx (NYSE:FDXGet Rating) had its target price lowered by research analysts at The Goldman Sachs Group from $288.00 to $250.00 in a note issued to investors on Friday, Marketbeat reports. The firm currently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 55.26% from the stock’s current price.

Other research analysts have also issued reports about the company. UBS Group cut their price objective on FedEx from $312.00 to $308.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. Berenberg Bank downgraded FedEx from a “buy” rating to a “hold” rating and decreased their price target for the stock from $333.00 to $275.00 in a research note on Friday, July 1st. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 21st. Bank of America downgraded FedEx from a “buy” rating to a “neutral” rating and decreased their target price for the company from $275.00 to $186.00 in a research note on Friday. Finally, Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $339.00 to $202.00 in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $245.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $161.02 on Friday. The business’s fifty day moving average price is $221.14 and its two-hundred day moving average price is $218.02. The stock has a market cap of $41.85 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. FedEx has a one year low of $155.00 and a one year high of $266.79.

FedEx (NYSE:FDXGet Rating) last announced its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). The company had revenue of $24.39 billion for the quarter, compared to analyst estimates of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same quarter last year, the company posted $5.01 EPS. On average, analysts forecast that FedEx will post 23.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 11,235 shares of FedEx stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares in the company, valued at $3,745,359.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other FedEx news, EVP Brie Carere sold 11,235 shares of FedEx stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares in the company, valued at $3,745,359.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amy B. Lane purchased 607 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was acquired at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the transaction, the director now owns 686 shares of the company’s stock, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in FedEx by 121.6% during the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Holloway Wealth Management LLC purchased a new position in FedEx during the 1st quarter worth approximately $29,000. American National Bank grew its position in FedEx by 206.7% during the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in FedEx during the 1st quarter worth approximately $35,000. Finally, Byrne Asset Management LLC purchased a new position in FedEx during the 4th quarter worth approximately $36,000. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

Further Reading

Analyst Recommendations for FedEx (NYSE:FDX)

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