FedEx (NYSE:FDX) Lowered to Hold Rating by StockNews.com

FedEx (NYSE:FDX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other research analysts also recently commented on the company. Loop Capital reduced their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. BMO Capital Markets reduced their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Evercore ISI lowered their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Citigroup initiated coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Performance

FDX opened at $280.06 on Tuesday. The company has a market cap of $68.43 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.10 and a beta of 1.17. The firm’s fifty day simple moving average is $275.86 and its two-hundred day simple moving average is $275.26. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Trading of FedEx

Several institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC boosted its position in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC boosted its holdings in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC increased its stake in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 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.