FedEx (NYSE:FDX) Price Target Cut to $260.00 by Analysts at BMO Capital Markets

FedEx (NYSE:FDX) had its price objective cut by research analysts at BMO Capital Markets from $275.00 to $260.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ target price points to a potential upside of 17.60% from the company’s previous close.

FDX has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Barclays reduced their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $297.00.

FedEx Trading Down 2.2%

FDX opened at $221.08 on Monday. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $52.97 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The firm has a 50 day simple moving average of $222.21 and a 200 day simple moving average of $255.83.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Transce3nd LLC bought a new position in shares of FedEx in the fourth quarter worth approximately $26,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter worth approximately $29,000. 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.