FedEx (NYSE:FDX) Given New $330.00 Price Target at Susquehanna

FedEx (NYSE:FDX) had its price target reduced by stock analysts at Susquehanna from $345.00 to $330.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the shipping service provider’s stock. Susquehanna’s price objective suggests a potential upside of 29.59% from the company’s previous close.

FDX has been the topic of several other research reports. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America decreased their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $313.38.

FedEx Stock Performance

FDX stock opened at $254.64 on Friday. The company has a market cap of $62.66 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 has a 1 year low of $224.69 and a 1 year high of $313.84. The stock’s fifty day moving average price is $292.43 and its 200-day moving average price is $275.04.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that FedEx will post 20.82 earnings per share for the current year.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were 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 owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

Several hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. lifted its holdings in FedEx by 93.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock worth $1,721,000 after buying an additional 2,777 shares during the period. Sanctuary Advisors LLC bought a new position in FedEx in the second quarter worth about $10,018,000. Clearbridge Investments LLC lifted its position in shares of FedEx by 63.9% during the second 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 last quarter. New Century Financial Group LLC boosted its holdings in shares of FedEx by 148.7% in the 2nd quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock valued at $1,587,000 after buying an additional 3,165 shares in the last quarter. Finally, Ariadne Wealth Management LP purchased a new position in shares of FedEx in the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.