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

FedEx (NYSE:FDX) had its price objective increased by investment analysts at Evercore from $350.00 to $351.00 in a report released on Monday. Evercore’s price target would indicate a potential upside of 22.06% from the company’s previous close.

FDX has been the topic of several other reports. JPMorgan Chase & Co. cut their price objective on FedEx from $460.00 to $400.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 8th. Bank of America restated a “buy” rating and set a $140.00 price target on shares of FedEx in a research report on Tuesday. HSBC decreased their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday, June 1st. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $354.72.

FedEx Price Performance

Shares of FedEx stock opened at $287.57 on Monday. The stock has a market capitalization of $68.06 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32. The company has a fifty day moving average of $315.30 and a 200-day moving average of $339.79. FedEx has a 52-week low of $179.69 and a 52-week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities research analysts expect that FedEx will post 17.55 EPS for the current year.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter valued at about $25,000. Bayban bought a new stake in shares of FedEx in the 1st quarter worth $26,000. Solstein Capital LLC purchased a new position in shares of FedEx in the 2nd quarter worth $27,000. C M Bidwell & Associates Ltd. bought a new stake in shares of FedEx in the second quarter worth $31,000. Finally, Cedar Mountain Advisors LLC grew its holdings in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 41 shares during the period. 84.47% of the stock is currently owned by institutional investors.

About FedEx

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.