Evercore ISI Trims FedEx (NYSE:FDX) Target Price to $225.00

FedEx (NYSE:FDXGet Rating) had its price objective lowered by equities researchers at Evercore ISI from $243.00 to $225.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Evercore ISI’s price target would suggest a potential upside of 49.63% from the stock’s previous close.

FDX has been the subject of a number of other reports. Credit Suisse Group cut their price target on FedEx from $246.00 to $236.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus downgraded FedEx from a “buy” rating to a “hold” rating and decreased their target price for the stock from $288.00 to $195.00 in a research report on Friday, September 16th. Stephens cut their target price on FedEx from $295.00 to $200.00 in a research note on Friday. Citigroup dropped their price objective on shares of FedEx from $180.00 to $165.00 in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on shares of FedEx from $269.00 to $199.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.70.

FedEx Price Performance

NYSE:FDX traded down $4.17 during trading hours on Friday, reaching $150.37. 103,689 shares of the company’s stock were exchanged, compared to its average volume of 4,134,571. The business’s 50-day simple moving average is $216.15 and its two-hundred day simple moving average is $216.44. The company has a market capitalization of $39.08 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. FedEx has a 12 month low of $150.34 and a 12 month high of $266.79.

FedEx (NYSE:FDXGet Rating) last posted its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. During the same period last year, the company earned $4.37 earnings per share. FedEx’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts expect that FedEx will post 16.55 EPS for the current fiscal year.

Insider Activity at FedEx

In other news, EVP Jill Brannon sold 5,620 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $237.00, for a total value of $1,331,940.00. Following the completion of the transaction, the executive vice president now owns 8,113 shares in the company, valued at approximately $1,922,781. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the sale, the executive vice president now directly owns 54,916 shares of the company’s stock, valued at approximately $12,664,178.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jill Brannon sold 5,620 shares of FedEx stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $237.00, for a total value of $1,331,940.00. Following the transaction, the executive vice president now owns 8,113 shares of the company’s stock, valued at approximately $1,922,781. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,810 shares of company stock valued at $11,199,898. Corporate insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ boosted its position in FedEx by 53.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 66,692 shares of the shipping service provider’s stock worth $15,432,000 after purchasing an additional 23,157 shares during the period. Graypoint LLC raised its holdings in FedEx by 16.0% in the 1st quarter. Graypoint LLC now owns 1,897 shares of the shipping service provider’s stock valued at $439,000 after acquiring an additional 261 shares during the period. NN Investment Partners Holdings N.V. lifted its position in FedEx by 15.2% during the first quarter. NN Investment Partners Holdings N.V. now owns 54,607 shares of the shipping service provider’s stock worth $12,635,000 after acquiring an additional 7,192 shares during the last quarter. Value Partners Investments Inc. boosted its holdings in shares of FedEx by 21.5% during the first quarter. Value Partners Investments Inc. now owns 306,203 shares of the shipping service provider’s stock worth $70,826,000 after acquiring an additional 54,116 shares during the period. Finally, Veriti Management LLC increased its stake in shares of FedEx by 22.5% during the first quarter. Veriti Management LLC now owns 3,343 shares of the shipping service provider’s stock worth $774,000 after purchasing an additional 614 shares during the period. Institutional investors own 71.62% of the company’s stock.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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