Citigroup Lowers FedEx (NYSE:FDX) Price Target to $317.00

FedEx (NYSE:FDX) had its price objective lowered by investment analysts at Citigroup from $347.00 to $317.00 in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price objective would indicate a potential upside of 29.15% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Wells Fargo & Company dropped their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $317.48.

FedEx Stock Up 1.3 %

FedEx stock opened at $245.46 on Tuesday. FedEx has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The firm has a market capitalization of $59.12 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock’s fifty day moving average is $262.47 and its two-hundred day moving average is $273.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $3.99 EPS. Analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently bought and sold shares of FDX. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the period. Transce3nd LLC acquired a new position in shares of FedEx during the 4th quarter valued at $26,000. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx during the 4th quarter valued at $28,000. Institutional investors and hedge funds 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.