FedEx (FDX) Price Target Raised to $282.00 at Citigroup

FedEx (NYSE:FDX) had its price objective raised by Citigroup from $274.00 to $282.00 in a report released on Wednesday. Citigroup currently has an outperform rating on the shipping service provider’s stock.

FDX has been the topic of a number of other reports. Credit Suisse Group dropped their price objective on shares of FedEx from $314.00 to $306.00 and set an outperform rating on the stock in a report on Wednesday, March 21st. Robert W. Baird raised their price objective on shares of FedEx from $270.00 to $280.00 and gave the stock an outperform rating in a report on Thursday, March 15th. Zacks Investment Research lowered shares of FedEx from a buy rating to a hold rating in a report on Tuesday, March 13th. Morgan Stanley dropped their price objective on shares of FedEx from $250.00 to $240.00 and set an equal weight rating on the stock in a report on Wednesday, March 21st. Finally, Stephens set a $306.00 price objective on shares of FedEx and gave the stock a buy rating in a report on Wednesday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $281.60.

Shares of NYSE:FDX opened at $249.45 on Wednesday. FedEx has a 12 month low of $188.75 and a 12 month high of $274.66. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.85. The firm has a market cap of $66.83 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.29 and a beta of 1.39.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 20th. The shipping service provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The business had revenue of $16.53 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same period last year, the business posted $2.35 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. research analysts predict that FedEx will post 15.13 earnings per share for the current fiscal year.

In other news, CEO Frederick W. Smith sold 124,000 shares of the business’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the transaction, the chief executive officer now directly owns 14,864,465 shares in the company, valued at approximately $3,805,154,395.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,400 shares of the business’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the transaction, the director now owns 14,400 shares in the company, valued at $3,672,000. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its stake in shares of FedEx by 14,866.7% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock worth $108,000 after purchasing an additional 446 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of FedEx during the 4th quarter worth about $125,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of FedEx during the 4th quarter worth about $144,000. We Are One Seven LLC acquired a new position in shares of FedEx during the 4th quarter worth about $148,000. Finally, Centaurus Financial Inc. acquired a new position in shares of FedEx during the 1st quarter worth about $156,000. Institutional investors own 75.21% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

Analyst Recommendations for FedEx (NYSE:FDX)

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