FedEx (NYSE:FDX) Rating Lowered to “Hold” at StockNews.com

FedEx (NYSE:FDX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Robert W. Baird cut their price target 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. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Performance

FDX stock opened at $280.06 on Tuesday. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The business has a 50-day moving average price of $275.86 and a 200 day moving average price of $275.26. The company has a market capitalization of $68.43 billion, a P/E ratio of 17.28, a PEG ratio of 1.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. As a group, equities research analysts forecast that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx in the second quarter worth about $39,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the 3rd quarter valued at about $47,000. 84.47% of the stock is currently owned by hedge funds and other 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.