FedEx (NYSE:FDX) Downgraded to Underweight at Morgan Stanley

FedEx (NYSE:FDX) was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Friday, MarketBeat reports. They currently have a $200.00 target price on the shipping service provider’s stock, down from their previous target price of $215.00. Morgan Stanley’s price objective would indicate a potential downside of 33.42% from the company’s previous close.

Several other analysts have also recently commented on FDX. Robert W. Baird reiterated an “outperform” rating and issued a $340.00 target price on shares of FedEx in a report on Friday, September 13th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI dropped their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $313.13.

FedEx Trading Up 0.7 %

Shares of NYSE FDX opened at $300.39 on Friday. The firm has a 50 day moving average price of $293.32 and a two-hundred day moving average price of $274.80. The stock has a market cap of $73.92 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts forecast that FedEx will post 20.82 EPS for the current year.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC raised its stake in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC raised its position in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC grew its position in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its stake in 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 acquiring an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.