Barclays Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target reduced by analysts at Barclays from $350.00 to $330.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price objective would indicate a potential upside of 50.72% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, UBS Group dropped their price target on FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $295.33.

FedEx Price Performance

FedEx stock opened at $218.95 on Tuesday. The business’s 50-day simple moving average is $216.82 and its 200 day simple moving average is $250.96. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.11 and a beta of 1.35. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.86 EPS. As a group, research analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FDX. Transce3nd LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $26,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter worth approximately $29,000. Finally, R Squared Ltd bought a new position in shares of FedEx during the 4th quarter worth approximately $31,000. 84.47% of the stock is currently owned by institutional investors.

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.