Wells Fargo & Company Increases FedEx (NYSE:FDX) Price Target to $320.00

FedEx (NYSE:FDX) had its price target lifted by research analysts at Wells Fargo & Company from $305.00 to $320.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.06% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. Barclays raised their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stephens reiterated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Down 0.1 %

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 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. The stock has a fifty day moving average of $282.71 and a 200-day moving average of $282.10.

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

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the third quarter valued at approximately $31,000. Abound Wealth Management grew its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in FedEx in the 3rd quarter valued at $47,000. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. 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.