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

FedEx (NYSE:FDX) had its price objective hoisted by research analysts at Wells Fargo & Company from $220.00 to $235.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.41% from the company’s current price.

Several other brokerages have also commented on FDX. TD Cowen decreased their price objective on shares of FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday. Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Raymond James Financial dropped their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.00.

FedEx Stock Down 4.7%

Shares of NYSE FDX traded down $10.72 during trading hours on Wednesday, hitting $218.80. 1,940,098 shares of the stock were exchanged, compared to its average volume of 1,868,424. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a fifty day moving average price of $219.11 and a 200-day moving average price of $243.86. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.73. The company has a market cap of $52.42 billion, a PE ratio of 13.72, a PEG ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the firm posted $5.41 earnings per share. On average, sell-side analysts expect that FedEx will post 19.14 EPS for the current year.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several institutional investors have recently bought and sold shares of FDX. Transce3nd LLC acquired a new stake in FedEx in the 4th quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $32,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $35,000. Finally, Abound Financial LLC acquired a new position in shares of FedEx during the 1st quarter worth about $38,000. 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.