FedEx (FDX) Price Target Raised to $293.00

FedEx (NYSE:FDX) had its target price boosted by stock analysts at Bank of America from $247.00 to $293.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Bank of America’s price objective would suggest a potential upside of 20.80% from the company’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their price objective on FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. BMO Capital Markets upped their price target on shares of FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $236.00 price target (up previously from $212.00) on shares of FedEx in a research report on Wednesday. Credit Suisse Group reaffirmed a “positive” rating and set a $283.00 price target (up previously from $278.00) on shares of FedEx in a research report on Wednesday. Finally, Stifel Nicolaus upped their price target on shares of FedEx from $221.00 to $272.00 and gave the company a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $244.25.

Shares of FedEx (FDX) opened at $242.54 on Wednesday. The firm has a market capitalization of $64,867.61, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36. FedEx has a 1-year low of $182.89 and a 1-year high of $243.75. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.69% and a net margin of 4.72%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. equities analysts anticipate that FedEx will post 12.47 EPS for the current fiscal year.

In other news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 in the last three months. Insiders own 8.45% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its stake in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the last quarter. Assetmark purchased a new stake in FedEx in the 3rd quarter valued at about $0. Cribstone Capital Management LLC increased its stake in FedEx by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the last quarter. Cornerstone Financial Partners LLC increased its stake in FedEx by 0.3% in the 1st quarter. Cornerstone Financial Partners LLC now owns 2,118 shares of the shipping service provider’s stock valued at $413,000 after buying an additional 7 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. increased its stake in FedEx by 0.6% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock valued at $259,000 after buying an additional 8 shares during the last quarter. 75.60% of the stock is currently owned by institutional investors.

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FedEx Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

The Fly

Analyst Recommendations for FedEx (NYSE:FDX)