Cowen Increases FedEx (FDX) Price Target to $280.00

FedEx (NYSE:FDX) had its price objective increased by analysts at Cowen from $240.00 to $280.00 in a report issued on Monday, Marketbeat reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Cowen’s target price suggests a potential upside of 15.66% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on FDX. Credit Suisse Group reiterated an “outperform” rating and issued a $278.00 price objective (up previously from $233.00) on shares of FedEx in a research note on Thursday. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Oppenheimer reissued a “buy” rating and issued a $229.00 target price on shares of FedEx in a report on Wednesday, September 20th. Citigroup boosted their target price on FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $221.00 target price (up previously from $216.00) on shares of FedEx in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. FedEx has an average rating of “Buy” and an average target price of $236.81.

Shares of FedEx (NYSE:FDX) traded up $2.04 during midday trading on Monday, reaching $242.09. The company’s stock had a trading volume of 289,395 shares, compared to its average volume of 1,477,418. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. FedEx has a one year low of $182.89 and a one year high of $243.48. The stock has a market capitalization of $64,368.93, a PE ratio of 20.16, a P/E/G ratio of 1.51 and a beta of 1.36.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the prior year, the firm posted $2.90 EPS. FedEx’s quarterly revenue was up 4.1% compared to the same quarter last year. equities analysts predict that FedEx will post 12.47 EPS for the current year.

In related news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 in the last ninety days. 8.45% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Krilogy Financial LLC grew its holdings in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the last quarter. Alexandria Capital LLC grew its holdings in FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the last quarter. IHT Wealth Management LLC grew its holdings in FedEx by 0.7% in the first quarter. IHT Wealth Management LLC now owns 2,244 shares of the shipping service provider’s stock valued at $440,000 after purchasing an additional 15 shares during the last quarter. Finally, RNC Capital Management LLC grew its holdings in FedEx by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after purchasing an additional 15 shares during the last quarter. 75.73% of the stock is currently owned by institutional investors.

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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.

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