FedEx (NYSE:FDX – Get Free Report) had its price target hoisted by investment analysts at Barclays from $280.00 to $300.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s target price would suggest a potential upside of 18.07% from the company’s previous close.
FDX has been the subject of a number of other research reports. Atlantic Securities initiated coverage on FedEx in a report on Tuesday, June 6th. They issued an “overweight” rating and a $265.00 price target for the company. JPMorgan Chase & Co. increased their price objective on FedEx from $228.00 to $251.00 in a research note on Wednesday, June 21st. Raymond James dropped their price objective on FedEx from $285.00 to $280.00 in a research note on Friday, June 16th. Bank of America dropped their price objective on FedEx from $295.00 to $290.00 in a research note on Wednesday, June 21st. Finally, Argus increased their price objective on FedEx from $240.00 to $260.00 in a research note on Monday, June 26th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.26.
Check Out Our Latest Research Report on FedEx
FedEx Trading Down 1.1 %
FedEx (NYSE:FDX – Get Free Report) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.87 earnings per share. On average, equities analysts forecast that FedEx will post 17.37 EPS for the current year.
Insider Buying and Selling
In related news, VP Jennifer L. Johnson sold 10,801 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the transaction, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the transaction, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the sale, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The disclosure for this sale can be found here. Insiders sold 35,816 shares of company stock worth $8,822,147 in the last 90 days. Insiders own 8.73% of the company’s stock.
Hedge Funds Weigh In On FedEx
Large investors have recently made changes to their positions in the company. Lakewood Asset Management LLC purchased a new position in FedEx in the fourth quarter valued at $26,000. Guardian Wealth Advisors LLC acquired a new stake in shares of FedEx in the first quarter valued at about $26,000. GW&K Investment Management LLC purchased a new stake in shares of FedEx during the first quarter worth about $27,000. Glass Jacobson Investment Advisors llc purchased a new position in FedEx in the 2nd quarter valued at about $27,000. Finally, Horan Securities Inc. lifted its position in shares of FedEx by 85.7% in the first quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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