BMO Capital Markets Lowers FedEx (NYSE:FDX) Price Target to $275.00

FedEx (NYSE:FDX) had its price objective reduced by equities researchers at BMO Capital Markets from $330.00 to $275.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ target price points to a potential upside of 11.79% from the company’s previous close.

FDX has been the topic of several other research reports. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. TD Cowen dropped their target price on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Finally, Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $307.08.

FedEx Stock Performance

Shares of FDX opened at $246.00 on Friday. The stock has a 50-day simple moving average of $260.76 and a 200-day simple moving average of $273.11. The stock has a market capitalization of $59.25 billion, a PE ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a 1 year low of $220.88 and a 1 year high of $313.84. 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 posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.86 EPS. On average, analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought 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 $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of large investors have recently modified their holdings of the stock. 111 Capital acquired a new stake in shares of FedEx in the fourth quarter valued at about $508,000. Wealth Enhancement Advisory Services LLC boosted its holdings in FedEx by 69.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider’s stock valued at $21,515,000 after purchasing an additional 31,376 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in FedEx by 2.6% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider’s stock valued at $5,493,000 after purchasing an additional 491 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in FedEx in the fourth quarter valued at about $44,690,000. Finally, Northstar Financial Companies Inc. purchased a new position in FedEx in the fourth quarter valued at about $393,000. 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.