FedEx (NYSE:FDX) Price Target Raised to $350.00 at UBS Group

FedEx (NYSE:FDX) had its price target raised by equities researchers at UBS Group from $311.00 to $350.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price target suggests a potential upside of 17.35% from the company’s previous close.

Several other brokerages also recently commented on FDX. Raymond James lowered their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $322.48.

FedEx Stock Up 8.1 %

FDX stock opened at $298.26 on Friday. The business’s 50-day moving average price is $282.48 and its 200-day moving average price is $281.66. The stock has a market cap of $72.87 billion, a P/E ratio of 18.40, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that FedEx will post 19.59 EPS for the current year.

Institutional Investors Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in FDX. Geode Capital Management LLC raised its position in FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. raised its stake in FedEx by 8.6% in 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 buying an additional 314,380 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 121,240 shares in the last quarter. 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 acquiring an additional 11,100 shares in the last quarter. 84.47% of the stock is 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.