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

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

FDX has been the subject of a number of other reports. BMO Capital Markets cut their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus cut their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.68.

FedEx Stock Up 0.2 %

Shares of FDX opened at $283.32 on Tuesday. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a market capitalization of $69.22 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The stock has a fifty day simple moving average of $279.29 and a two-hundred day simple moving average of $279.60. 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 (NYSE:FDX) last issued its quarterly earnings data 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 earnings per share. As a group, equities analysts forecast that FedEx will post 19.59 EPS for the current year.

Institutional Investors Weigh In On FedEx

Institutional investors have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC increased its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth approximately $31,000. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management increased its position in 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 during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth approximately $47,000. 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.