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

FedEx (NYSE:FDX) had its target price lowered by investment analysts at BMO Capital Markets from $330.00 to $275.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 11.79% from the stock’s previous close.

FDX has been the subject of a number of other research reports. Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial began coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective for the company. JPMorgan Chase & Co. cut their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company cut their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup cut their target price on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $307.08.

FedEx Price Performance

Shares of FDX opened at $246.00 on Friday. The firm has a market cap of $59.25 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23. The stock has a 50 day moving average of $260.76 and a 200-day moving average of $273.11. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a 52 week low of $220.88 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts forecast that FedEx will post 19.14 EPS for the current year.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FDX. 111 Capital purchased a new position in FedEx in the fourth quarter valued at about $508,000. Wealth Enhancement Advisory Services LLC grew its stake 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 in the last quarter. NorthCrest Asset Manangement LLC grew its stake 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 in 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. Hedge funds and other institutional investors 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.