FedEx (NYSE:FDX) had its target price raised by equities researchers at Credit Suisse Group from $150.00 to $171.00 in a report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. Credit Suisse Group’s price target suggests a potential upside of 21.95% from the stock’s previous close.
FDX has been the subject of a number of other research reports. Citigroup lifted their target price on FedEx from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upgraded FedEx from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $117.00 to $140.00 in a report on Monday, April 13th. Stephens dropped their target price on FedEx from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Stifel Nicolaus dropped their target price on FedEx from $136.00 to $120.00 in a report on Wednesday, March 18th. Finally, Barclays lifted their target price on FedEx from $135.00 to $155.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $154.78.
NYSE:FDX opened at $140.22 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.21 and a quick ratio of 1.16. FedEx has a 1 year low of $88.69 and a 1 year high of $178.50. The stock’s 50 day simple moving average is $128.84 and its two-hundred day simple moving average is $135.86. The company has a market cap of $35.15 billion, a price-to-earnings ratio of -100.88, a PEG ratio of 1.19 and a beta of 1.31.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 EPS for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.26. The firm had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.01 EPS. As a group, analysts anticipate that FedEx will post 8.56 EPS for the current year.
In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of FedEx stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $117.71, for a total transaction of $18,333,332.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.44% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Crow Point Partners bought a new position in shares of FedEx in the 3rd quarter worth $265,000. Chelsea Counsel Company raised its position in shares of FedEx by 6.3% in the 3rd quarter. Chelsea Counsel Company now owns 2,252 shares of the shipping service provider’s stock worth $324,000 after acquiring an additional 134 shares in the last quarter. F&V Capital Management raised its position in shares of FedEx by 1.9% in the 4th quarter. F&V Capital Management now owns 37,190 shares of the shipping service provider’s stock worth $5,540,000 after acquiring an additional 685 shares in the last quarter. Merriman Wealth Management raised its position in shares of FedEx by 1.9% in the 4th quarter. Merriman Wealth Management now owns 4,121 shares of the shipping service provider’s stock worth $591,000 after acquiring an additional 75 shares in the last quarter. Finally, Fulton Bank raised its position in shares of FedEx by 19.6% in the 4th quarter. Fulton Bank now owns 11,958 shares of the shipping service provider’s stock worth $1,782,000 after acquiring an additional 1,956 shares in the last quarter. 73.98% of the stock is owned by hedge funds and other institutional investors.
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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