FedEx (NYSE:FDX) Given New $272.00 Price Target at Bank of America

FedEx (NYSE:FDX) had its price target lowered by equities research analysts at Bank of America from $295.00 to $272.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Bank of America‘s price target points to a potential upside of 10.57% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus cut their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup cut their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.48.

FedEx Stock Down 0.5 %

FedEx stock opened at $246.00 on Friday. FedEx has a fifty-two week low of $222.79 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50 day moving average price of $260.76 and a 200 day moving average price of $273.11. The company has a market capitalization of $59.25 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.86 earnings per share. Research analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently bought and sold shares of FDX. United Bank acquired a new position in FedEx during the third quarter worth approximately $615,000. Quest Partners LLC acquired a new position in FedEx during the third quarter worth approximately $123,000. Pathstone Holdings LLC increased its position in FedEx by 2.1% during the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock worth $7,827,000 after purchasing an additional 586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in FedEx during the third quarter worth approximately $2,611,000. Finally, PNC Financial Services Group Inc. increased its position in FedEx by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock worth $21,045,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds 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.