FedEx (NYSE:FDX) Price Target Cut to $350.00 by Analysts at Barclays

FedEx (NYSE:FDX) had its target price cut by equities research analysts at Barclays from $365.00 to $350.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price objective points to a potential upside of 52.02% from the company’s current price.

FDX has been the topic of a number of other research reports. TD Cowen cut their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Citigroup reduced their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James lowered their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $301.60.

FedEx Stock Down 6.5 %

Shares of NYSE:FDX traded down $15.98 during mid-day trading on Friday, hitting $230.23. 5,959,103 shares of the company traded hands, compared to its average volume of 1,752,274. The stock has a 50-day moving average price of $260.76 and a two-hundred day moving average price of $273.11. The stock has a market cap of $55.45 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.11 and a beta of 1.23. 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 12-month low of $217.22 and a 12-month high of $313.84.

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 analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.86 EPS. On average, equities research analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s 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 directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % 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 Trading of FedEx

Large investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI grew its stake in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. Regal Investment Advisors LLC increased its position in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the period. Griffin Asset Management Inc. grew its holdings in FedEx by 0.4% during the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares during the period. Finally, Aviso Financial Inc. raised its stake in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the period. 84.47% of the stock is currently owned by 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.