FedEx (NYSE:FDX) PT Lowered to $300.00 at BMO Capital Markets

FedEx (NYSE:FDX) had its target price lowered by equities research analysts at BMO Capital Markets from $325.00 to $300.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ target price points to a potential upside of 16.12% from the stock’s current price.

A number of other brokerages have also recently issued reports on FDX. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Argus upped their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

FedEx Stock Down 14.0 %

NYSE FDX traded down $42.04 during trading hours on Friday, reaching $258.35. 12,273,325 shares of the company’s stock traded hands, compared to its average volume of 1,825,907. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84. The firm has a market cap of $63.58 billion, a PE ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The firm has a 50-day simple moving average of $293.32 and a 200 day simple moving average of $274.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts anticipate that FedEx will post 20.82 EPS for the current fiscal year.

Insider Transactions at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. increased its position in shares of FedEx by 93.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock valued at $1,721,000 after purchasing an additional 2,777 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in FedEx in the 2nd quarter worth about $10,018,000. Clearbridge Investments LLC boosted its position in FedEx by 63.9% in the 2nd quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock valued at $2,374,000 after buying an additional 3,087 shares during the period. New Century Financial Group LLC boosted its holdings in shares of FedEx by 148.7% in the second quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock valued at $1,587,000 after purchasing an additional 3,165 shares during the period. Finally, Ariadne Wealth Management LP purchased a new position in FedEx during the 2nd quarter worth $103,000. 84.47% of the stock is currently owned by hedge funds and other 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.