UBS Group Lowers FedEx (NYSE:FDX) Price Target to $331.00

FedEx (NYSE:FDX) had its price objective cut by equities researchers at UBS Group from $350.00 to $331.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price target would suggest a potential upside of 43.76% from the company’s current price.

Other analysts have also issued reports about the stock. Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday. Raymond James reduced their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $301.67.

FedEx Stock Down 6.5 %

Shares of FedEx stock opened at $230.25 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx has a 52-week low of $217.22 and a 52-week high of $313.84. The company has a 50-day simple moving average of $259.95 and a two-hundred day simple moving average of $272.49.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 earnings per share. On average, analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insider Transactions at FedEx

In related news, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of FDX. United Bank purchased a new stake in FedEx during the third quarter valued at $615,000. Quest Partners LLC purchased a new stake in FedEx during the third quarter valued at $123,000. Pathstone Holdings LLC raised its stake in FedEx by 2.1% during the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after purchasing an additional 586 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in FedEx during the third quarter valued at $2,611,000. Finally, PNC Financial Services Group Inc. increased its position in FedEx by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock valued at $21,045,000 after acquiring an additional 259 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.