Citigroup Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target upped by research analysts at Citigroup from $301.00 to $331.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price objective would indicate a potential upside of 15.01% from the company’s previous close.

FDX has been the topic of several other research reports. Bank of America dropped their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday, September 20th. Finally, Raymond James reduced their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $315.42.

FedEx Stock Down 0.7 %

FDX stock traded down $2.00 during trading hours on Tuesday, reaching $287.79. 611,840 shares of the stock were exchanged, compared to its average volume of 1,806,471. The firm’s 50-day moving average is $275.18 and its 200-day moving average is $275.69. The company has a market cap of $70.31 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business earned $4.55 EPS. FedEx’s revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that FedEx will post 19.59 earnings per share for the current year.

Institutional Trading of FedEx

Several large investors have recently made changes to their positions in FDX. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth $39,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx in the third quarter valued at approximately $47,000. 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.