Citigroup Trims FedEx (NYSE:FDX) Target Price to $165.00

FedEx (NYSE:FDXGet Rating) had its target price reduced by equities researchers at Citigroup from $180.00 to $165.00 in a research note issued on Friday, The Fly reports. Citigroup’s target price would suggest a potential upside of 6.77% from the company’s current price.

A number of other analysts have also commented on FDX. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $339.00 to $202.00 in a research report on Friday, September 16th. Cowen decreased their target price on FedEx from $310.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. Credit Suisse Group decreased their target price on FedEx from $314.00 to $246.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Evercore ISI decreased their target price on FedEx from $318.00 to $243.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.91.

FedEx Stock Up 0.8 %

Shares of NYSE:FDX opened at $154.54 on Friday. The company has a market capitalization of $40.17 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 0.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.43 and a quick ratio of 1.38. The business’s 50-day moving average is $216.15 and its 200-day moving average is $216.44. FedEx has a 1 year low of $150.34 and a 1 year high of $266.79.

FedEx (NYSE:FDXGet Rating) last announced its quarterly earnings data on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The business had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.78 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.37 earnings per share. Equities research analysts predict that FedEx will post 16.55 earnings per share for the current year.

Insider Activity at FedEx

In related news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $230.61, for a total value of $2,838,809.10. Following the transaction, the executive vice president now owns 54,916 shares in the company, valued at $12,664,178.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Amy B. Lane acquired 607 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the purchase, the director now owns 686 shares in the company, valued at $156,490.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the transaction, the executive vice president now owns 54,916 shares in the company, valued at approximately $12,664,178.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,810 shares of company stock worth $11,199,898. Insiders own 8.62% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently made changes to their positions in FDX. Activest Wealth Management lifted its position in shares of FedEx by 121.6% during the second quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Holloway Wealth Management LLC purchased a new stake in shares of FedEx during the first quarter worth $29,000. Coston McIsaac & Partners purchased a new stake in shares of FedEx during the second quarter worth $30,000. American National Bank lifted its position in shares of FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock worth $31,000 after acquiring an additional 93 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx during the first quarter worth $35,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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