JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its target price upped by investment analysts at JPMorgan Chase & Co. from $370.00 to $372.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 35.46% from the company’s previous close.

Several other research firms also recently issued reports on FDX. TD Cowen upped their price objective on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Stifel Nicolaus raised their target price on shares of FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Price Performance

Shares of FDX stock opened at $274.62 on Tuesday. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The stock has a market capitalization of $67.10 billion, a PE ratio of 16.94, a PEG ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s fifty day moving average is $283.85 and its 200-day moving average is $284.47.

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

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC grew its position in shares of FedEx by 5.6% in the 2nd quarter. Private Advisor Group LLC now owns 19,551 shares of the shipping service provider’s stock valued at $5,862,000 after acquiring an additional 1,042 shares during the period. Strategic Financial Concepts LLC acquired a new position in FedEx during the second quarter worth approximately $110,000. Acadian Asset Management LLC raised its stake in FedEx by 7.5% in the second quarter. Acadian Asset Management LLC now owns 7,268 shares of the shipping service provider’s stock valued at $2,177,000 after buying an additional 505 shares during the period. Clifford Swan Investment Counsel LLC lifted its position in shares of FedEx by 28.4% in the second quarter. Clifford Swan Investment Counsel LLC now owns 1,347 shares of the shipping service provider’s stock valued at $404,000 after buying an additional 298 shares during the last quarter. Finally, Choreo LLC boosted its stake in shares of FedEx by 249.5% during the 2nd quarter. Choreo LLC now owns 16,891 shares of the shipping service provider’s stock worth $5,046,000 after acquiring an additional 12,058 shares during the period. 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.