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

FedEx (NYSE:FDX) had its price objective lifted by analysts at JPMorgan Chase & Co. from $370.00 to $372.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 34.57% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Evercore ISI cut their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $324.96.

FedEx Trading Up 0.9 %

FDX traded up $2.47 during trading on Tuesday, hitting $276.44. The company’s stock had a trading volume of 809,686 shares, compared to its average volume of 1,219,420. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market cap of $67.54 billion, a PE ratio of 17.05, a PEG ratio of 1.18 and a beta of 1.18. The firm’s 50 day moving average price is $283.83 and its 200-day moving average price is $284.39. 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 released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 earnings per share. On average, analysts expect that FedEx will post 19.59 earnings per share for the current year.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several large investors have recently bought and sold shares of the stock. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter valued at approximately $31,000. Abound Wealth Management grew its holdings 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 purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of FedEx during the third quarter valued at approximately $47,000. Finally, Sachetta LLC raised its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.