FedEx (NYSE:FDX) Price Target Raised to $320.00 at Wells Fargo & Company

FedEx (NYSE:FDX) had its target price increased by equities researchers at Wells Fargo & Company from $305.00 to $320.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.06% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Raymond James reduced their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and increased their price objective for the company from $288.00 to $365.00 in a report on Friday. Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI decreased their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Performance

Shares of FDX opened at $275.73 on Friday. The stock has a 50 day moving average of $282.71 and a 200 day moving average of $282.10. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

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

Institutional Investors Weigh In On FedEx

Several hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. increased its stake 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 valued at $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Franklin Resources Inc. raised its position 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 valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. World Investment Advisors LLC lifted its stake in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares in the last quarter. 84.47% of the stock is currently owned by 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.