FedEx (NYSE:FDX – Get Rating) had its target price boosted by research analysts at Citigroup from $240.00 to $250.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price target indicates a potential upside of 24.26% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Robert W. Baird cut their price objective on shares of FedEx from $240.00 to $230.00 in a research report on Thursday, December 15th. The Goldman Sachs Group set a $218.00 target price on shares of FedEx in a research note on Wednesday, February 15th. Barclays set a $240.00 target price on shares of FedEx in a research note on Monday, January 2nd. UBS Group set a $225.00 target price on shares of FedEx in a research note on Thursday, February 2nd. Finally, Morgan Stanley raised their target price on shares of FedEx from $130.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.96.
FedEx Price Performance
FDX stock opened at $201.19 on Thursday. The firm has a 50 day moving average of $198.82 and a 200-day moving average of $182.32. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. FedEx has a 12 month low of $141.92 and a 12 month high of $248.76. The firm has a market capitalization of $50.78 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31.
Insider Activity at FedEx
In other FedEx news, Director Amy B. Lane bought 280 shares of FedEx stock in a transaction on Tuesday, January 3rd. The shares were acquired at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the purchase, the director now directly owns 1,529 shares in the company, valued at approximately $268,844.07. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.62% of the stock is currently owned by insiders.
Hedge Funds Weigh In On FedEx
Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in FedEx in the fourth quarter valued at about $388,787,000. International Assets Investment Management LLC lifted its holdings in shares of FedEx by 24,422.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,169,490 shares of the shipping service provider’s stock worth $1,678,000 after purchasing an additional 1,164,721 shares during the period. Edmp Inc. lifted its holdings in FedEx by 21,900.8% in the fourth quarter. Edmp Inc. now owns 882,454 shares of the shipping service provider’s stock valued at $5,095,000 after acquiring an additional 878,443 shares during the period. Renaissance Technologies LLC acquired a new position in FedEx in the third quarter valued at approximately $122,633,000. Finally, Mawer Investment Management Ltd. acquired a new position in FedEx in the second quarter valued at approximately $181,239,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
FedEx Company Profile
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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