FedEx (NYSE:FDX) Price Target Cut to $330.00 by Analysts at Raymond James

FedEx (NYSE:FDX) had its price target dropped by investment analysts at Raymond James from $335.00 to $330.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Raymond James’ target price suggests a potential upside of 26.24% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $215.00 to $200.00 in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Stephens reissued an “overweight” rating and set a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $313.12.

FedEx Stock Down 13.0 %

Shares of FDX opened at $261.40 on Friday. The stock has a 50 day moving average price of $293.32 and a 200 day moving average price of $274.80. FedEx has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market capitalization of $64.33 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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 company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $4.55 earnings per share. Equities research analysts forecast that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last quarter. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Hedge funds have recently added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new position in shares of FedEx during the 4th quarter worth about $25,000. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

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.