JPMorgan Chase & Co. Increases FedEx (NYSE:FDX) Price Target to $366.00

FedEx (NYSE:FDX) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $350.00 to $366.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.84% from the stock’s current price.

A number of other analysts have also recently weighed in on FDX. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Down 2.0 %

FDX stock traded down $5.84 during mid-day trading on Tuesday, hitting $290.85. The stock had a trading volume of 138,199 shares, compared to its average volume of 1,785,247. The stock has a market capitalization of $71.06 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.26 and a beta of 1.18. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a fifty day moving average of $277.83 and a 200 day moving average of $279.12.

FedEx (NYSE:FDX) last issued 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 business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 EPS. On average, equities analysts expect that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Geode Capital Management LLC raised its position in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the period. Franklin Resources Inc. raised its holdings in 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 buying an additional 314,380 shares during the period. Ameriprise Financial Inc. lifted its stake in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after acquiring an additional 11,100 shares in the last quarter. Institutional investors 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.