Citigroup Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price objective lowered by Citigroup from $347.00 to $317.00 in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Citigroup’s target price suggests a potential upside of 28.10% from the company’s previous close.

FDX has been the subject of several other research reports. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $317.48.

FedEx Stock Up 0.7 %

Shares of NYSE:FDX opened at $247.46 on Tuesday. The company has a market cap of $59.60 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The firm’s 50-day simple moving average is $261.33 and its 200-day simple moving average is $273.30. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. As a group, equities research analysts predict that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Transce3nd LLC bought a new stake in shares of FedEx during the 4th quarter worth $26,000. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Finally, Kentucky Trust Co bought a new stake in shares of FedEx during the 4th quarter worth $28,000. 84.47% of the stock is owned by institutional investors.

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.