FedEx (NYSE:FDX) Price Target Cut to $311.00 by Analysts at UBS Group

FedEx (NYSE:FDX) had its target price reduced by equities research analysts at UBS Group from $333.00 to $311.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s target price would indicate a potential upside of 22.13% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird lowered their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday. TD Cowen reduced their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday. Bank of America lowered their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.38.

FedEx Trading Down 15.2 %

Shares of NYSE FDX opened at $254.64 on Friday. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 has a 1 year low of $224.69 and a 1 year high of $313.84. The firm has a 50-day moving average of $292.43 and a 200 day moving average of $275.04.

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

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, 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 can be accessed through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently modified their holdings of the stock. SeaCrest Wealth Management LLC grew its stake in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew its position in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC grew its position in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.