FedEx (NYSE:FDX) Downgraded by HSBC

FedEx (NYSE:FDX) was downgraded by HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday, Briefing.com reports. They presently have a $300.00 price objective on the shipping service provider’s stock. HSBC’s price objective would suggest a potential downside of 0.13% from the company’s current price.

Other analysts have also recently issued reports about the stock. Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday. TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Raymond James lowered their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Stephens reaffirmed an “overweight” rating and issued a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Finally, Evercore ISI lowered their price objective on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.63.

FedEx Stock Up 0.7 %

FDX stock opened at $300.39 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market capitalization of $73.92 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84. The company’s 50 day simple moving average is $293.32 and its 200-day simple moving average is $274.80.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the firm earned $4.55 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx will post 20.82 EPS for the current year.

Insider Buying and Selling

In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last 90 days. 8.73% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortis Group Advisors LLC raised its position in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter worth $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter worth $39,000. Security National Bank acquired a new position in FedEx during the fourth quarter worth $44,000. Finally, Abound Wealth Management increased its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

About FedEx

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.