FedEx (NYSE:FDX) Price Target Cut to $300.00 by Analysts at Stephens

FedEx (NYSE:FDX) had its target price dropped by research analysts at Stephens from $320.00 to $300.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. Stephens’ price objective would indicate a potential upside of 36.34% from the stock’s current price.

Other analysts also recently issued reports about the stock. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Citigroup lowered their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday. Raymond James lowered their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.68.

FedEx Stock Performance

Shares of FDX opened at $220.04 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a twelve month low of $217.49 and a twelve month high of $313.84. The firm’s 50 day moving average price is $260.76 and its two-hundred day moving average price is $273.11. The firm has a market cap of $53.00 billion, a P/E ratio of 13.99, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm posted $3.86 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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