FedEx (NYSE:FDX) had its price objective boosted by equities researchers at Goldman Sachs Group from $153.00 to $169.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “conviction-buy” rating on the shipping service provider’s stock. Goldman Sachs Group’s target price indicates a potential upside of 20.52% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Daiwa Capital Markets upped their price objective on shares of FedEx from $104.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Oppenheimer reissued a “hold” rating on shares of FedEx in a research report on Wednesday, May 6th. Cowen decreased their price objective on shares of FedEx from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Wells Fargo & Co upped their price objective on shares of FedEx from $146.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Barclays upped their price objective on shares of FedEx from $135.00 to $155.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. FedEx presently has an average rating of “Hold” and a consensus target price of $154.78.
Shares of FedEx stock opened at $140.22 on Wednesday. The company has a fifty day moving average price of $128.84 and a 200 day moving average price of $135.86. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. FedEx has a twelve month low of $88.69 and a twelve month high of $178.50. The stock has a market cap of $35.15 billion, a price-to-earnings ratio of -100.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.31.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.26. The company had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a negative net margin of 0.50% and a positive return on equity of 17.05%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.01 EPS. Analysts forecast that FedEx will post 8.56 earnings per share for the current year.
In related news, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $117.71, for a total transaction of $18,333,332.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.44% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Utah Retirement Systems increased its stake in shares of FedEx by 0.4% in the fourth quarter. Utah Retirement Systems now owns 45,987 shares of the shipping service provider’s stock valued at $6,953,000 after purchasing an additional 200 shares during the period. Watchman Group Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $2,310,000. Sailer Financial LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $353,000. Oregon Public Employees Retirement Fund increased its stake in shares of FedEx by 22.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after purchasing an additional 19,349 shares during the period. Finally, Columbus Circle Investors increased its stake in shares of FedEx by 7.1% in the second quarter. Columbus Circle Investors now owns 371,150 shares of the shipping service provider’s stock valued at $56,333,000 after purchasing an additional 24,449 shares during the period. Hedge funds and other institutional investors own 73.98% 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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