FedEx (NYSE:FDX) Cut to Underweight at Morgan Stanley

FedEx (NYSE:FDX) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $200.00 target price on the shipping service provider’s stock, down from their prior target price of $215.00. Morgan Stanley’s price target suggests a potential downside of 21.46% from the company’s current price.

Several other brokerages have also recently issued reports on FDX. Stephens reiterated an “overweight” rating and issued a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Bank of America cut their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird reissued an “outperform” rating and issued a $340.00 target price on shares of FedEx in a report on Friday, September 13th. Finally, The Goldman Sachs Group upped their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FDX stock opened at $254.64 on Friday. The firm has a 50 day moving average price of $292.43 and a two-hundred day moving average price of $275.04. The company has a market capitalization of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business posted $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that FedEx will post 20.82 earnings per share for the current year.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last quarter. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC boosted its stake in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC raised its holdings in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC raised its stake in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC lifted its stake in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% in the 2nd 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. 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.