FedEx (NYSE:FDX) Rating Lowered to Market Perform at Sanford C. Bernstein

FedEx (NYSE:FDX) was downgraded by equities research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $316.00 target price on the shipping service provider’s stock, down from their previous target price of $337.00. Sanford C. Bernstein’s target price indicates a potential upside of 11.53% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group decreased their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, UBS Group cut their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock 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 issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Performance

FedEx stock opened at $283.32 on Tuesday. The firm’s fifty day moving average price is $279.29 and its 200-day moving average price is $279.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market cap of $69.22 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. FedEx has a fifty-two week low of $234.45 and a fifty-two 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 for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 EPS. On average, equities research analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FDX. International Assets Investment Management LLC raised its holdings in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Franklin Resources Inc. raised its holdings in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. World Investment Advisors LLC raised its holdings in FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after buying an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other 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.