HSBC Downgrades FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $300.00 price target on the shipping service provider’s stock. HSBC’s target price would indicate a potential upside of 17.81% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Evercore ISI cut their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, Robert W. Baird dropped their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FedEx stock opened at $254.64 on Friday. The stock has a fifty day moving average price of $292.43 and a 200-day moving average price 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. The firm has a market cap of $62.66 billion, a PE ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84.

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

Insider Buying and Selling at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was 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 owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several large investors have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC raised its stake in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC raised its position 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 buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted 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 valued at $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings 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 acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.