Stifel Nicolaus Increases FedEx (NYSE:FDX) Price Target to $242.00

FedEx (NYSE:FDX – Get Rating) had its price target boosted by equities research analysts at Stifel Nicolaus from $222.00 to $242.00 in a research report issued to clients and investors on Friday, The Fly reports. Stifel Nicolaus’ price target would indicate a potential upside of 9.85% from the stock’s current price.

FDX has been the topic of several other research reports. Citigroup raised their target price on FedEx from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of FedEx from $199.00 to $233.00 in a report on Friday. Barclays raised their price objective on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday. Stephens raised their price objective on shares of FedEx from $200.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America raised their price objective on shares of FedEx from $233.00 to $305.00 in a report on Friday. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.75.

FedEx Trading Up 8.0 %

Shares of NYSE FDX opened at $220.31 on Friday. FedEx has a twelve month low of $141.92 and a twelve month high of $248.76. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $201.14 and a 200-day simple moving average of $181.41. The stock has a market capitalization of $55.61 billion, a PE ratio of 17.31, a PEG ratio of 1.20 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last issued its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. FedEx had a return on equity of 19.17% and a net margin of 3.54%. The business had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.74 billion. During the same period in the previous year, the firm posted $4.59 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. On average, equities analysts forecast that FedEx will post 13.53 earnings per share for the current year.

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 280 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was purchased at an average price of $175.83 per share, with a total value of $49,232.40. Following the purchase, the director now owns 1,529 shares of the company’s stock, valued at approximately $268,844.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.62% of the stock is currently owned by corporate insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of FedEx during the 4th quarter worth about $388,787,000. International Assets Investment Management LLC grew its holdings in shares of FedEx by 24,422.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,169,490 shares of the shipping service provider’s stock worth $1,678,000 after purchasing an additional 1,164,721 shares during the period. Edmp Inc. grew its holdings in shares of FedEx by 21,900.8% during the 4th quarter. Edmp Inc. now owns 882,454 shares of the shipping service provider’s stock worth $5,095,000 after purchasing an additional 878,443 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of FedEx during the 3rd quarter worth about $122,633,000. Finally, Mawer Investment Management Ltd. purchased a new position in FedEx in the 2nd quarter worth approximately $181,239,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.

About FedEx

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.