FedEx (NYSE:FDX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

FedEx (NYSE:FDX) had its target price hoisted by investment analysts at Stifel Nicolaus from $321.00 to $368.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 33.95% from the stock’s current price.

A number of other brokerages have also weighed in on FDX. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and upped their price objective for the stock from $288.00 to $365.00 in a report on Friday. UBS Group boosted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Evercore ISI lowered their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $324.36.

FedEx Stock Performance

NYSE FDX traded down $1.15 during midday trading on Friday, hitting $274.73. The company had a trading volume of 2,419,414 shares, compared to its average volume of 1,794,044. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $282.48 and a two-hundred day simple moving average of $281.66. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market cap of $67.12 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $3.99 earnings per share. Equities analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of FedEx during the 3rd quarter valued at about $3,405,000. Czech National Bank boosted its holdings in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates boosted its holdings in shares of FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after acquiring an additional 31,241 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in FedEx during the third quarter valued at $2,096,000. 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.