FedEx (NYSE:FDX) Given Overweight Rating at Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a report released on Friday, Benzinga reports. They presently have a $350.00 target price on the shipping service provider’s stock. Stephens’ price target indicates a potential upside of 36.71% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Susquehanna decreased their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $313.24.

FedEx Stock Performance

NYSE:FDX traded down $44.38 during trading hours on Friday, hitting $256.01. 6,226,254 shares of the company traded hands, compared to its average volume of 1,794,393. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $63.00 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a 50-day moving average of $293.32 and a 200 day moving average of $274.80. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that FedEx will post 20.82 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

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

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.