FedEx (NYSE:FDX) Price Target Raised to $320.00 at Raymond James

FedEx (NYSE:FDX) had its price objective raised by equities research analysts at Raymond James from $305.00 to $320.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Raymond James’ target price indicates a potential upside of 16.06% from the company’s previous close.

A number of other research firms also recently weighed in on FDX. BMO Capital Markets upped their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Price Performance

NYSE:FDX opened at $275.73 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm’s 50-day simple moving average is $282.71 and its 200 day simple moving average is $282.10.

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

Hedge Funds Weigh In On FedEx

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in FedEx during the 3rd quarter worth $3,405,000. Czech National Bank increased its stake in shares of 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 during the period. Magnolia Capital Advisors LLC bought a new position in shares of FedEx during the second quarter worth 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. Finally, Versor Investments LP bought a new stake in FedEx in the third quarter valued at approximately $2,096,000. Institutional investors own 84.47% of the company’s stock.

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.