FedEx (NYSE:FDX) Price Target Raised to $366.00 at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its target price increased by equities researchers at JPMorgan Chase & Co. from $350.00 to $366.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 25.84% from the company’s previous close.

Other research analysts have also issued research reports about the company. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Raymond James lowered their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. TD Cowen decreased their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Down 2.0 %

Shares of FDX traded down $5.84 during mid-day trading on Tuesday, hitting $290.85. 138,199 shares of the company’s stock were exchanged, compared to its average volume of 1,785,247. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a market cap of $71.06 billion, a PE ratio of 18.31, a P/E/G ratio of 1.26 and a beta of 1.18. The company has a 50-day simple moving average of $277.83 and a 200 day simple moving average of $279.12.

FedEx (NYSE:FDX) last issued its quarterly 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). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.55 earnings per share. On average, research analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of FDX. Geode Capital Management LLC boosted its stake in shares of FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after buying an additional 67,502 shares during the last quarter. Franklin Resources Inc. lifted its holdings in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the period. Ameriprise Financial Inc. boosted its position in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the period. 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.