FedEx (NYSE:FDX) Price Target Lowered to $320.00 at Robert W. Baird

FedEx (NYSE:FDX) had its price target lowered by stock analysts at Robert W. Baird from $340.00 to $320.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Robert W. Baird’s target price would suggest a potential upside of 6.53% from the stock’s previous close.

FDX has been the subject of a number of other research reports. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a research note on Friday. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $313.13.

FedEx Price Performance

Shares of NYSE:FDX opened at $300.39 on Friday. The firm has a market capitalization of $73.92 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a one year low of $224.69 and a one year high of $313.84. The company’s fifty day moving average price is $293.32 and its 200-day moving average price is $274.80.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 earnings per share. On average, equities research analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David P. Steiner sold 1,369 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the sale, the director now owns 35,183 shares in the company, valued at $10,474,330.93. 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 in the last quarter. 8.73% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently bought and sold shares of the business. 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 valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in FedEx during the 4th quarter valued at $25,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter valued at $39,000. Security National Bank bought a new position in shares of FedEx during the 4th quarter valued at $44,000. Finally, Abound Wealth Management boosted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 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.