FedEx (NYSE:FDX) Price Target Cut to $311.00 by Analysts at UBS Group

FedEx (NYSE:FDX) had its price target reduced by equities research analysts at UBS Group from $333.00 to $311.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price target would suggest a potential upside of 21.00% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on FDX. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Finally, Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $312.24.

FedEx Trading Down 14.4 %

FDX traded down $43.37 during mid-day trading on Friday, hitting $257.02. 3,012,260 shares of the stock were exchanged, compared to its average volume of 1,776,734. The company has a market cap of $63.25 billion, a PE ratio of 14.92, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. 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 firm’s fifty day moving average is $293.32 and its two-hundred day moving average is $274.80.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were 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 owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in FDX. Capital International Investors raised its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new position in FedEx in the fourth quarter worth approximately $307,007,000. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Putnam Investments LLC lifted its position in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its stake in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

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.