FedEx (FDX) PT Raised to $274.00 at Oppenheimer

FedEx (NYSE:FDX) had its target price upped by equities researchers at Oppenheimer from $265.00 to $274.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the shipping service provider’s stock. Oppenheimer’s price objective points to a potential upside of 8.72% from the company’s current price.

A number of other analysts also recently commented on FDX. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Barclays reissued an “overweight” rating and set a $270.00 price objective (up previously from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $278.00 price target (up previously from $233.00) on shares of FedEx in a report on Thursday, December 14th. Finally, Cowen reaffirmed an “outperform” rating and issued a $280.00 price target (up previously from $240.00) on shares of FedEx in a report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $275.86.

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Shares of FedEx (NYSE:FDX) opened at $252.03 on Friday. The company has a market cap of $66,275.88, a PE ratio of 23.23, a P/E/G ratio of 1.44 and a beta of 1.32. FedEx has a fifty-two week low of $182.89 and a fifty-two week high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. analysts forecast that FedEx will post 13.45 EPS for the current year.

In other news, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO David J. Bronczek sold 46,555 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the transaction, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. In the last three months, insiders sold 53,541 shares of company stock valued at $13,692,142. Company insiders own 8.45% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Cerebellum GP LLC acquired a new stake in shares of FedEx in the fourth quarter worth $125,000. Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx in the third quarter valued at $132,000. Massey Quick Simon & CO. LLC purchased a new position in shares of FedEx in the third quarter valued at $136,000. Carroll Financial Associates Inc. boosted its stake in shares of FedEx by 61.1% in the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after purchasing an additional 240 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of FedEx in the fourth quarter valued at $144,000. 74.65% of the stock is owned by institutional investors and hedge funds.

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FedEx Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx (NYSE:FDX)

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