FedEx (NYSE:FDX) Price Target Lowered to $225.00 at Evercore ISI

FedEx (NYSE:FDXGet Rating) had its price objective cut by Evercore ISI from $243.00 to $225.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. Evercore ISI’s target price points to a potential upside of 49.63% from the stock’s previous close.

A number of other analysts also recently issued reports on FDX. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Monday. Citigroup reduced their price objective on FedEx from $180.00 to $165.00 in a research note on Friday. UBS Group cut their price objective on FedEx from $232.00 to $215.00 in a research note on Friday. Bank of America lowered their target price on shares of FedEx from $186.00 to $178.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Stephens cut their price objective on shares of FedEx from $295.00 to $200.00 in a report on Friday. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.70.

FedEx Trading Down 2.7 %

FDX stock traded down $4.17 during trading on Friday, hitting $150.37. 103,689 shares of the company traded hands, compared to its average volume of 4,134,571. The company has a 50-day moving average of $216.15 and a 200-day moving average of $216.44. FedEx has a 1 year low of $150.34 and a 1 year high of $266.79. The firm has a market capitalization of $39.08 billion, a PE ratio of 10.52, a P/E/G ratio of 0.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43.

FedEx (NYSE:FDXGet Rating) last released its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The firm had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.37 EPS. Analysts predict that FedEx will post 16.55 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In related news, Director Vincenzo J. Vena acquired 900 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was acquired at an average price of $230.04 per share, with a total value of $207,036.00. Following the acquisition, the director now directly owns 1,325 shares in the company, valued at approximately $304,803. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $224.67, for a total value of $2,765,687.70. Following the completion of the transaction, the executive vice president now directly owns 54,916 shares in the company, valued at approximately $12,337,977.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vincenzo J. Vena purchased 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The shares were purchased at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the transaction, the director now owns 1,325 shares of the company’s stock, valued at approximately $304,803. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 48,810 shares of company stock valued at $11,199,898. 8.62% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Several hedge funds have recently modified their holdings of the company. Activest Wealth Management raised its holdings in FedEx by 121.6% in the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 62 shares during the period. Holloway Wealth Management LLC acquired a new position in shares of FedEx during the 1st quarter worth approximately $29,000. Coston McIsaac & Partners purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $30,000. American National Bank grew its stake in FedEx by 206.7% in the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider’s stock valued at $31,000 after acquiring an additional 93 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in FedEx in the 1st quarter worth $35,000. 71.62% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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