FedEx Corp. (NYSE:FDX) was downgraded by investment analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $122.00 price objective on the stock, up from their previous price objective of $120.00. Buckingham Research’s target price suggests a potential upside of 1.60% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on FDX. Analysts at Zacks reiterated a “neutral” rating on shares of FedEx Corp. in a research note to investors on Friday, October 4th. They now have a $119.00 price target on the stock. Separately, analysts at Stifel Nicolaus downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 23rd. They noted that the move was a valuation call. Finally, analysts at Robert W. Baird raised their price target on shares of FedEx Corp. from $116.00 to $126.00 in a research note to investors on Thursday, September 19th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $116.88.
Shares of FedEx Corp. (NYSE:FDX) opened at 120.08 on Wednesday. FedEx Corp. has a 52-week low of $85.15 and a 52-week high of $122.50. The stock has a 50-day moving average of $112.2 and a 200-day moving average of $103.4. The company has a market cap of $38.022 billion and a P/E ratio of 24.05.
FedEx Corp. (NYSE:FDX) last released its earnings data on Wednesday, September 18th. The company reported $1.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.51 by $0.02. The company had revenue of $11.00 billion for the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that FedEx Corp. will post $6.97 earnings per share for the current fiscal year.
FedEx Corporation (NYSE:FDX) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.