FedEx (NYSE:FDX) Price Target Cut to $267.00 by Analysts at Citigroup

FedEx (NYSE:FDX) had its price objective reduced by research analysts at Citigroup from $305.00 to $267.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price target would indicate a potential upside of 35.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Barclays cut their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, UBS Group reduced their price target on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.63.

FedEx Trading Down 3.7 %

NYSE:FDX traded down $7.66 during mid-day trading on Tuesday, reaching $197.57. 2,405,838 shares of the company’s stock traded hands, compared to its average volume of 1,762,453. The company has a 50 day moving average price of $250.91 and a 200-day moving average price of $268.08. The firm has a market capitalization of $47.34 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx has a 12-month low of $195.74 and a 12-month high of $313.84.

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

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value 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 trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Trading of FedEx

Hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC purchased a new stake in FedEx during the 4th quarter valued at $26,000. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new position in FedEx during the fourth quarter worth $28,000. Finally, Kentucky Trust Co bought a new position in FedEx during the fourth quarter valued at $28,000. 84.47% of the stock is currently owned by hedge funds and other 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.