JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price objective raised by research analysts at JPMorgan Chase & Co. from $370.00 to $372.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 35.46% from the company’s previous close.

FDX has been the subject of several other research reports. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stephens dropped their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Trading Down 0.1 %

NYSE:FDX opened at $274.62 on Tuesday. The stock has a fifty day simple moving average of $283.85 and a 200 day simple moving average of $284.47. The firm has a market capitalization of $67.10 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the company posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that FedEx will post 19.59 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On FedEx

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of FedEx in the 3rd quarter valued at approximately $3,405,000. Czech National Bank boosted its stake in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in FedEx in the second quarter valued at $9,226,000. Raymond James & Associates raised its stake in FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in shares of FedEx by 52.2% during the fourth quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock valued at $1,846,000 after acquiring an additional 2,251 shares during the period. Institutional investors and hedge funds 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.