FedEx (NYSE:FDX) Given New $370.00 Price Target at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $366.00 to $370.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 33.24% from the company’s previous close.

FDX has been the subject of a number of other reports. The Goldman Sachs Group cut their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating 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 target price on the stock. in a research report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $324.52.

FedEx Price Performance

FDX traded up $1.82 on Friday, reaching $277.70. 4,055,731 shares of the company’s stock were exchanged, compared to its average volume of 1,802,255. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market cap of $67.85 billion, a PE ratio of 17.13, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s fifty day moving average price is $282.48 and its 200-day moving average price is $281.66.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the firm posted $3.99 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts expect that FedEx will post 19.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Virtu Financial LLC acquired a new position in FedEx in the third quarter valued at approximately $3,405,000. Czech National Bank lifted its holdings in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $9,226,000. Raymond James & Associates grew its stake in FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after buying an additional 31,241 shares during the last quarter. Finally, Versor Investments LP purchased a new position in FedEx during the 3rd quarter worth approximately $2,096,000. 84.47% of the stock is owned by institutional investors and hedge funds.

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.