FedEx (NYSE:FDX) Price Target Cut to $260.00 by Analysts at BMO Capital Markets

FedEx (NYSE:FDX) had its price objective lowered by BMO Capital Markets from $275.00 to $260.00 in a report released on Monday,Benzinga reports. The firm currently has a market perform rating on the shipping service provider’s stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company dropped their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Raymond James dropped their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $297.00.

FedEx Price Performance

FDX opened at $226.10 on Monday. The stock has a fifty day simple moving average of $222.61 and a two-hundred day simple moving average of $256.08. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $54.17 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the company posted $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Hennion & Walsh Asset Management Inc. raised its holdings in FedEx by 8.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,183 shares of the shipping service provider’s stock valued at $1,177,000 after buying an additional 334 shares during the period. Ritholtz Wealth Management purchased a new stake in FedEx during the 4th quarter valued at $249,000. Merit Financial Group LLC raised its holdings in FedEx by 13.8% during the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider’s stock valued at $796,000 after buying an additional 344 shares during the period. Ameritas Advisory Services LLC raised its holdings in FedEx by 0.6% during the 4th quarter. Ameritas Advisory Services LLC now owns 7,152 shares of the shipping service provider’s stock valued at $2,012,000 after buying an additional 45 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in FedEx by 9.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,827 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other 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.