JPMorgan Chase & Co. Boosts FedEx (NYSE:FDX) Price Target to $370.00

FedEx (NYSE:FDX) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $366.00 to $370.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 34.19% from the stock’s previous close.

Several other equities analysts have also commented on FDX. 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 note on Friday, September 20th. UBS Group lifted their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company upped their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

Shares of NYSE:FDX opened at $275.73 on Friday. The company has a market cap of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. The company’s 50 day moving average is $282.71 and its two-hundred day moving average is $282.10. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. 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 (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.99 earnings per share. Equities analysts predict that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently modified their holdings of FDX. International Assets Investment Management LLC raised its holdings in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of FedEx by 34.6% in 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. Franklin Resources Inc. increased 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 valued at $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. World Investment Advisors LLC raised its position in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares in the last quarter. Hedge funds and other 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.