FedEx (NYSE:FDX) Given New $280.00 Price Target at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $323.00 to $280.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 23.59% from the stock’s current price.

FDX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. UBS Group reduced their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stifel Nicolaus reduced their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday. Finally, Bank of America dropped their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

FedEx Stock Performance

FedEx stock traded down $19.65 during midday trading on Friday, hitting $226.56. 4,849,929 shares of the company’s stock were exchanged, compared to its average volume of 1,703,509. The firm’s 50 day simple moving average is $260.76 and its 200 day simple moving average is $273.11. FedEx has a 12-month low of $217.49 and a 12-month high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $21.96 billion. During the same period in the prior year, the company earned $3.86 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that FedEx will post 19.14 EPS for the current year.

Insider Activity

In other news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently added to or reduced their stakes in FDX. Fortitude Family Office LLC raised its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new position in FedEx in the fourth quarter valued at about $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.