FedEx (NYSE:FDX) Price Target Cut to $332.00 by Analysts at The Goldman Sachs Group

FedEx (NYSE:FDX) had its target price decreased by equities researchers at The Goldman Sachs Group from $333.00 to $332.00 in a report released on Friday. The Goldman Sachs Group’s price objective indicates a potential upside of 30.38% from the company’s previous close.

Several other research firms have also recently commented on FDX. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company lifted their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Finally, HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FDX opened at $254.64 on Friday. The stock has a fifty day moving average price of $292.43 and a two-hundred day moving average price of $275.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 52-week low of $224.69 and a 52-week 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 for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The company’s revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx will post 20.82 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. 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 quarter. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Large investors have recently modified their holdings of the stock. Precision Wealth Strategies LLC acquired a new stake in FedEx during the fourth quarter worth approximately $324,000. Quest Partners LLC bought a new position in FedEx during the 4th quarter worth $267,000. Franklin Resources Inc. lifted its holdings in shares of FedEx by 38.6% during the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after buying an additional 42,844 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of FedEx by 3.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after acquiring an additional 2,051 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of FedEx by 3.6% in the fourth quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after acquiring an additional 3,955 shares in the last quarter. 84.47% of the stock is owned by 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.