FedEx (NYSE:FDX) Given New $345.00 Price Target at Stephens

FedEx (NYSE:FDX) had its price objective decreased by equities research analysts at Stephens from $350.00 to $345.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Stephens’ price objective would suggest a potential upside of 25.12% from the company’s previous close.

Other analysts have also issued reports about the stock. Susquehanna reduced their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. 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 note on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

Shares of 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 stock has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a 50 day moving average price of $282.71 and a 200 day moving average price of $282.10.

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

Institutional Trading of FedEx

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in FedEx by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 256,870 shares of the shipping service provider’s stock worth $70,300,000 after acquiring an additional 10,063 shares during the period. DGS Capital Management LLC increased its stake in shares of FedEx by 10.7% in the third quarter. DGS Capital Management LLC now owns 1,405 shares of the shipping service provider’s stock worth $385,000 after purchasing an additional 136 shares during the period. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Synovus Financial Corp boosted its stake in FedEx by 251.8% during the 3rd quarter. Synovus Financial Corp now owns 14,936 shares of the shipping service provider’s stock valued at $4,087,000 after purchasing an additional 10,690 shares during the period. Finally, Tidal Investments LLC grew its holdings in FedEx by 18.9% in the 3rd quarter. Tidal Investments LLC now owns 18,870 shares of the shipping service provider’s stock valued at $5,164,000 after buying an additional 2,994 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.