FedEx (NYSE:FDX) has been given a $148.00 target price by equities researchers at Morgan Stanley in a report issued on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the shipping service provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 12.90% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. UBS Group downgraded shares of FedEx from a “neutral” rating to a “sell” rating and decreased their target price for the company from $171.00 to $161.00 in a research report on Friday, April 26th. Credit Suisse Group reaffirmed a “buy” rating and issued a $241.00 target price on shares of FedEx in a research report on Monday, April 1st. Berenberg Bank downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $245.00 to $200.00 in a research report on Monday, April 1st. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $174.00 target price on shares of FedEx in a research report on Thursday, March 28th. Finally, Daiwa Capital Markets downgraded shares of FedEx from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $187.00 to $179.00 in a research report on Thursday, March 21st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $212.33.
FedEx stock traded down $5.85 during mid-day trading on Friday, reaching $169.92. The company’s stock had a trading volume of 2,235,100 shares, compared to its average volume of 2,009,843. The company has a market cap of $44.28 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.88 and a beta of 1.62. FedEx has a 12 month low of $150.94 and a 12 month high of $266.67. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.72 EPS. On average, equities research analysts forecast that FedEx will post 15.44 EPS for the current year.
In other FedEx news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the sale, the executive vice president now owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,650 shares of company stock valued at $34,751,470. Corporate insiders own 8.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FDX. Oregon Public Employees Retirement Fund lifted its stake in FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after acquiring an additional 13,970,642 shares during the last quarter. Norges Bank acquired a new stake in shares of FedEx during the 4th quarter worth about $303,958,000. Artisan Partners Limited Partnership lifted its stake in shares of FedEx by 40.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after buying an additional 792,575 shares during the last quarter. LSV Asset Management lifted its stake in shares of FedEx by 39.7% during the 1st quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after buying an additional 564,452 shares during the last quarter. Finally, Lakewood Capital Management LP lifted its stake in shares of FedEx by 102.8% during the 4th quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock worth $152,166,000 after buying an additional 478,000 shares during the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.
FedEx Company Profile
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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