FedEx (FDX) Price Target Cut to $275.00

FedEx (NYSE:FDX) had its price target lowered by equities research analysts at Citigroup from $304.00 to $275.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price target suggests a potential upside of 24.06% from the stock’s previous close.

FDX has been the subject of several other reports. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Morgan Stanley set a $240.00 price objective on FedEx and gave the stock a “hold” rating in a research report on Monday, October 22nd. Credit Suisse Group set a $307.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Finally, Loop Capital boosted their price objective on FedEx to $318.00 and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $284.86.

Shares of NYSE:FDX traded down $2.38 during trading on Friday, hitting $221.66. 1,808,286 shares of the company traded hands, compared to its average volume of 1,829,742. The firm has a market capitalization of $58.41 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.00 and a beta of 1.36. FedEx has a one year low of $207.90 and a one year high of $274.66. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last posted its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $2.65 earnings per share. As a group, analysts predict that FedEx will post 17.35 EPS for the current fiscal year.

In other news, Director Susan Patricia Griffith bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The stock was purchased at an average cost of $225.16 per share, for a total transaction of $225,160.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Palo Capital Inc. acquired a new stake in shares of FedEx during the 3rd quarter valued at $108,000. Vigilant Capital Management LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at $114,000. Lenox Wealth Advisors LLC acquired a new stake in shares of FedEx during the 3rd quarter valued at $120,000. Fortis Advisors LLC lifted its position in shares of FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares during the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of FedEx during the 3rd quarter valued at $134,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Analyst Recommendations for FedEx (NYSE:FDX)

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