Stifel Nicolaus Boosts FedEx (NYSE:FDX) Price Target to $368.00

FedEx (NYSE:FDX) had its price target boosted by equities researchers at Stifel Nicolaus from $321.00 to $368.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 33.95% from the stock’s current price.

Several other research firms also recently commented on FDX. Robert W. Baird reduced their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Barclays boosted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. BMO Capital Markets lowered their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.36.

FedEx Trading Down 0.4 %

Shares of FDX stock traded down $1.15 during mid-day trading on Friday, reaching $274.73. The stock had a trading volume of 2,419,414 shares, compared to its average volume of 1,794,044. The stock’s 50-day moving average price is $282.48 and its two-hundred day moving average price is $281.66. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $67.12 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FedEx

Hedge funds have recently modified their holdings of the stock. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the 3rd quarter valued at about $31,000. Abound Wealth Management grew its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC increased 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 valued at $49,000 after purchasing an additional 37 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the third quarter worth approximately $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.