FedEx (NYSE:FDX) Price Target Cut to $184.00

FedEx (NYSE:FDX) had its target price reduced by stock analysts at Credit Suisse Group from $241.00 to $184.00 in a research report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 14.02% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Daiwa Capital Markets downgraded FedEx from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Morgan Stanley set a $148.00 target price on FedEx and gave the stock a “hold” rating in a report on Friday, May 17th. ValuEngine downgraded FedEx from a “sell” rating to a “strong sell” rating in a report on Monday, June 3rd. Susquehanna Bancshares reissued a “neutral” rating and issued a $174.00 target price on shares of FedEx in a report on Thursday, March 28th. Finally, BMO Capital Markets dropped their target price on FedEx to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $203.86.

NYSE FDX opened at $161.37 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. FedEx has a twelve month low of $150.68 and a twelve month high of $266.03. The company has a market cap of $41.18 billion, a P/E ratio of 10.54, a PEG ratio of 0.76 and a beta of 1.69.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the firm earned $3.72 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that FedEx will post 15.42 EPS for the current fiscal year.

In other news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Insiders sold 185,650 shares of company stock valued at $34,751,470 in the last 90 days. Company insiders own 8.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of FDX. Oregon Public Employees Retirement Fund raised its stake in shares of FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Norges Bank purchased a new stake in FedEx during the fourth quarter valued at $303,958,000. Artisan Partners Limited Partnership increased its position in FedEx by 40.7% during the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after acquiring an additional 792,575 shares during the last quarter. Nordea Investment Management AB increased its position in FedEx by 63.5% during the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after acquiring an additional 601,465 shares during the last quarter. Finally, LSV Asset Management increased its position in FedEx by 39.7% during the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after acquiring an additional 564,452 shares during the last quarter. Hedge funds and other institutional investors own 69.45% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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The Fly

Analyst Recommendations for FedEx (NYSE:FDX)

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