FedEx (NYSE:FDX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

FedEx (NYSE:FDX) had its target price increased by research analysts at Wells Fargo & Company from $305.00 to $320.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 15.99% from the stock’s previous close.

Several other equities research analysts also recently issued reports on FDX. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock 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 eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.92.

FedEx Stock Up 1.0 %

FDX stock opened at $275.88 on Friday. The firm’s 50 day moving average price is $282.48 and its 200-day moving average price is $281.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market cap of $67.40 billion, a PE ratio of 17.02, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a one year low of $234.45 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the company posted $3.99 earnings per share. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx will post 19.59 EPS for the current year.

Hedge Funds Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC increased its stake 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 acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth approximately $31,000. Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC increased its holdings in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx in the third quarter valued at $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.