FedEx (NYSE:FDX) had its price target hoisted by research analysts at BMO Capital Markets from $220.00 to $265.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 4.23% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered FedEx from a “buy” rating to a “hold” rating and set a $242.00 target price on the stock. in a research note on Thursday, September 3rd. Cowen raised their price objective on shares of FedEx from $167.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Stephens raised their price target on shares of FedEx from $215.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. BofA Securities increased their price objective on FedEx from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Berenberg Bank set a $280.00 target price on FedEx and gave the stock a “buy” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and a consensus price target of $241.69.
Shares of NYSE:FDX opened at $254.25 on Wednesday. The business has a 50-day moving average price of $204.74 and a 200 day moving average price of $148.86. FedEx has a 12-month low of $88.69 and a 12-month high of $241.00. The company has a current ratio of 1.58, a quick ratio of 1.53 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $62.01 billion, a price-to-earnings ratio of 51.94, a PEG ratio of 1.84 and a beta of 1.48.
In related news, EVP Robert B. Carter sold 21,480 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $157.53, for a total transaction of $3,383,744.40. Following the completion of the sale, the executive vice president now owns 74,366 shares of the company’s stock, valued at approximately $11,714,875.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,307 shares of FedEx stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $202.60, for a total transaction of $264,798.20. Following the transaction, the executive vice president now directly owns 11,481 shares in the company, valued at $2,326,050.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,058 shares of company stock worth $7,149,678. 8.49% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Demars Financial Group LLC purchased a new stake in FedEx during the 2nd quarter worth $177,000. Principal Financial Group Inc. lifted its stake in shares of FedEx by 4.3% during the second quarter. Principal Financial Group Inc. now owns 343,610 shares of the shipping service provider’s stock worth $48,181,000 after purchasing an additional 14,196 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of FedEx in the second quarter worth about $232,000. AdvisorNet Financial Inc grew its stake in shares of FedEx by 114.8% in the second quarter. AdvisorNet Financial Inc now owns 567 shares of the shipping service provider’s stock valued at $79,000 after buying an additional 303 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of FedEx during the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 71.65% 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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