Bernstein Bank Increases FedEx (NYSE:FDX) Price Target to $337.00

by · The Markets Daily

FedEx (NYSE:FDX – Get Free Report) had its price target boosted by stock analysts at Bernstein Bank from $305.00 to $337.00 in a research report issued on Friday. The firm presently has an “overweight” rating on the shipping service provider’s stock. Bernstein Bank’s target price would indicate a potential upside of 32.34% from the stock’s previous close.

FDX has been the topic of several other research reports. Evercore ISI decreased their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Finally, Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $313.38.

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FedEx Stock Performance

Shares of FDX opened at $254.64 on Friday. The business has a 50-day simple moving average of $292.43 and a two-hundred day simple moving average of $275.04. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17.

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

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction 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 approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortis Group Advisors LLC raised its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in FedEx in the 4th quarter valued at $25,000. Central Valley Advisors LLC purchased a new position in FedEx in the 2nd quarter valued at $39,000. Security National Bank acquired a new stake in FedEx during the 4th quarter worth $44,000. Finally, Abound Wealth Management grew its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

About FedEx

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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.

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