Raymond James Financial Reiterates Outperform Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDXGet Free Report)‘s stock had its “outperform” rating reissued by analysts at Raymond James Financial in a note issued to investors on Wednesday, MarketBeat reports. They currently have a $260.00 price objective on the shipping service provider’s stock, down from their previous price objective of $275.00. Raymond James Financial’s price objective indicates a potential upside of 17.65% from the company’s current price.

FDX has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on shares of FedEx from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America reduced their price objective on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. BMO Capital Markets cut their price target on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.17.

Read Our Latest Research Report on FedEx

FedEx Price Performance

FDX stock opened at $220.99 on Wednesday. The business’s fifty day moving average price is $219.75 and its 200 day moving average price is $243.30. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $52.95 billion, a PE ratio of 13.09, a P/E/G ratio of 1.13 and a beta of 1.35.

FedEx (NYSE:FDXGet Free Report) last released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the previous year, the company posted $5.41 EPS. On average, sell-side analysts anticipate that FedEx will post 19.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FDX. Transce3nd LLC acquired a new position in FedEx in the fourth quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the fourth quarter worth about $28,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of FedEx in the 4th quarter valued at about $32,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $35,000. Finally, Abound Financial LLC acquired a new stake in shares of FedEx in the 1st quarter valued at about $38,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

(Get Free Report)

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.

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Analyst Recommendations for FedEx (NYSE:FDX)

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