FedEx (NYSE:FDX) Stock Rating Reaffirmed by Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $350.00 target price on the shipping service provider’s stock. Stephens’ price target would suggest a potential upside of 37.45% from the company’s previous close.

Several other research firms have also commented on FDX. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a report on Friday. UBS Group lowered their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday. Susquehanna dropped their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Trading Down 15.2 %

NYSE FDX opened at $254.64 on Friday. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84. The company’s fifty day moving average price is $292.43 and its two-hundred day moving average price is $275.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. FedEx’s revenue was down .5% compared to the same quarter last year. As a group, research analysts predict that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new position in FedEx in the fourth quarter valued at about $25,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter worth about $39,000. Security National Bank acquired a new position in FedEx in the 4th quarter worth about $44,000. Finally, Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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.