StockNews.com Downgrades FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other research analysts have also recently issued reports about the stock. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Susquehanna cut their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird lowered their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Performance

Shares of NYSE:FDX traded up $4.27 during midday trading on Tuesday, reaching $275.45. The company had a trading volume of 947,601 shares, compared to its average volume of 1,811,861. The company’s 50 day moving average price is $276.19 and its 200 day moving average price is $275.22. 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 stock has a market cap of $67.30 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Trading of FedEx

A number of large investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. International Assets Investment Management LLC raised its stake in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares in the last quarter. 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.