TD Cowen Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target increased by analysts at TD Cowen from $328.00 to $337.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s price objective indicates a potential upside of 22.22% from the stock’s current price.

Other research analysts also recently issued reports about the company. Citigroup increased their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Finally, Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and increased their price objective for the stock from $288.00 to $365.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Price Performance

Shares of 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. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a 50 day simple moving average of $282.71 and a 200 day simple moving average of $282.10. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

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

Institutional Trading of FedEx

Several institutional investors have recently added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the 3rd quarter worth approximately $47,000. Finally, Sachetta LLC increased its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently 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.