JPMorgan Chase & Co. Issues Positive Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price upped by research analysts at JPMorgan Chase & Co. from $370.00 to $372.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 34.57% from the company’s previous close.

FDX has been the topic of several other research reports. Citigroup upped their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Finally, Raymond James increased their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $324.96.

FedEx Stock Performance

Shares of NYSE:FDX traded up $2.47 during trading on Tuesday, hitting $276.44. 809,686 shares of the company were exchanged, compared to its average volume of 1,219,420. The company has a market cap of $67.54 billion, a PE ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.18. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a 50 day moving average of $283.83 and a 200 day moving average of $284.39.

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

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently added to or reduced their stakes in the company. Sachetta LLC increased its position in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. IVC Wealth Advisors LLC increased its holdings in FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its position in shares of FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the last quarter. Finally, Buckley Wealth Management LLC lifted its stake in FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

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.