BMO Capital Markets Lowers FedEx (NYSE:FDX) Price Target to $300.00

FedEx (NYSE:FDX) had its price objective decreased by equities research analysts at BMO Capital Markets from $325.00 to $300.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price target points to a potential upside of 17.81% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group reduced their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price target on FedEx from $333.00 to $332.00 in a report on Friday. Finally, Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $313.38.

FedEx Price Performance

Shares of NYSE FDX opened at $254.64 on Friday. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The business has a 50-day moving average of $292.43 and a 200-day moving average of $275.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. As a group, sell-side analysts predict that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. Corporate insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its stake in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of FedEx during the first quarter worth $1,667,000. Allegheny Financial Group LTD bought a new stake in shares of FedEx during the first quarter worth $203,000. Hilltop National Bank bought a new stake in shares of FedEx during the first quarter worth $476,000. Finally, Csenge Advisory Group grew its stake in shares of FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after buying an additional 298 shares during the last quarter. Institutional investors 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.