FedEx (NYSE:FDX) Given New $330.00 Price Target at BMO Capital Markets

FedEx (NYSE:FDX) had its target price increased by research analysts at BMO Capital Markets from $300.00 to $330.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 17.62% from the stock’s current price.

Several other research firms have also issued reports on FDX. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Evercore ISI cut their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.64.

FedEx Stock Performance

FDX traded up $4.68 during midday trading on Friday, reaching $280.56. The company’s stock had a trading volume of 4,832,588 shares, compared to its average volume of 1,805,806. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a fifty day simple moving average of $282.48 and a 200 day simple moving average of $281.66. The stock has a market cap of $68.55 billion, a P/E ratio of 17.31, a PEG ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping 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 company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. Research analysts expect that FedEx will post 19.59 earnings per share for the current year.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Virtu Financial LLC bought a new position in shares of FedEx during the 3rd quarter worth $3,405,000. Czech National Bank raised its stake in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares during the period. Magnolia Capital Advisors LLC purchased a new position in FedEx during the 2nd quarter valued at about $9,226,000. Raymond James & Associates increased its position in shares of FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after buying an additional 31,241 shares during the period. Finally, Versor Investments LP bought a new position in shares of FedEx in the third quarter valued at approximately $2,096,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.