FedEx (NYSE:FDX) Lowered to Hold Rating by StockNews.com

FedEx (NYSE:FDX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

FDX has been the topic of a number of other research reports. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. TD Cowen dropped their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America cut their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

FedEx Trading Down 4.7 %

NYSE:FDX traded down $13.84 during mid-day trading on Tuesday, hitting $282.85. The company had a trading volume of 2,615,825 shares, compared to its average volume of 1,796,379. The firm has a market cap of $69.11 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.24 and a beta of 1.18. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The business’s fifty day moving average is $278.90 and its two-hundred day moving average is $279.57. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. As a group, research analysts expect that FedEx will post 19.59 earnings per share for the current year.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently bought and sold shares of FDX. Czech National Bank boosted its stake in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at about $9,226,000. Raymond James & Associates lifted its stake in shares of FedEx by 6.9% in the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter worth approximately $22,052,000. Finally, Versor Investments LP bought a new stake in FedEx during the third quarter valued at $2,096,000. 84.47% of the stock is owned by 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.