Wells Fargo & Company Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price decreased by investment analysts at Wells Fargo & Company from $275.00 to $260.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.92% from the company’s previous close.

A number of other brokerages also recently commented on FDX. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. TD Cowen reduced their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets reduced their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Bank of America reduced their price target on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Stock Performance

FDX opened at $230.25 on Friday. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84. The firm’s 50-day moving average price is $259.95 and its 200 day moving average price is $272.49. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.86 earnings per share. As a group, sell-side analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

A number of large investors have recently bought and sold shares of the company. 111 Capital purchased a new position in FedEx during the 4th quarter worth $508,000. Wealth Enhancement Advisory Services LLC raised its position in FedEx by 69.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider’s stock worth $21,515,000 after buying an additional 31,376 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in FedEx by 2.6% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider’s stock worth $5,493,000 after buying an additional 491 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in FedEx during the 4th quarter worth $44,690,000. Finally, Northstar Financial Companies Inc. purchased a new position in FedEx during the 4th quarter worth $393,000. Hedge funds and other institutional investors 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.