Raymond James Financial Reaffirms Outperform Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “outperform” rating reaffirmed by Raymond James Financial in a research note issued on Wednesday, MarketBeat reports. They currently have a $260.00 price target on the shipping service provider’s stock, down from their previous price target of $275.00. Raymond James Financial’s target price would indicate a potential upside of 15.27% from the stock’s previous close.

Several other analysts also recently weighed in on FDX. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and lowered their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Wells Fargo & Company lifted their price objective on FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. Sanford C. Bernstein cut their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Finally, Citigroup reduced their price objective on shares of FedEx from $267.00 to $259.00 and set a “buy” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.17.

FedEx Stock Performance

NYSE:FDX opened at $225.56 on Wednesday. The firm’s fifty day simple moving average is $219.48 and its 200 day simple moving average is $243.71. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a twelve month low of $194.30 and a twelve month high of $313.84. The firm has a market capitalization of $54.04 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.54% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the firm posted $5.41 earnings per share. As a group, equities research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Institutional Trading of FedEx

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in FedEx by 1.4% during the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider’s stock worth $4,994,848,000 after purchasing an additional 289,655 shares in the last quarter. Dodge & Cox increased its position in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the period. Geode Capital Management LLC raised its stake in shares of FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after buying an additional 323,115 shares during the period. Finally, Invesco Ltd. boosted its stake in FedEx by 1.4% during the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider’s stock valued at $795,940,000 after buying an additional 43,989 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.