FedEx (NYSE:FDX) Price Target Raised to $265.00

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.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 EPS for the quarter, topping the consensus estimate of $2.69 by $2.18. The firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.56 billion. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.05 EPS. As a group, equities research analysts predict that FedEx will post 10.52 earnings per share for the current fiscal year.

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.

Recommended Story: What is the quiet period?

Analyst Recommendations for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.