FedEx (NYSE:FDX) Price Target Cut to $250.00 by Analysts at Morgan Stanley

FedEx (NYSE:FDX) had its target price dropped by investment analysts at Morgan Stanley from $270.00 to $250.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.21% from the company’s current price.

FDX has been the subject of several other research reports. Loop Capital boosted their price target on shares of FedEx from $366.00 to $381.00 and gave the stock a “buy” rating in a report on Friday, June 25th. Argus boosted their price target on shares of FedEx from $305.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, June 29th. They noted that the move was a valuation call. DZ Bank restated a “sell” rating on shares of FedEx in a report on Friday, June 25th. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of FedEx from $318.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $323.92.

Shares of NYSE:FDX opened at $228.92 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $271.03 and a two-hundred day moving average of $284.54. The stock has a market cap of $60.94 billion, a P/E ratio of 11.77, a PEG ratio of 1.01 and a beta of 1.22. FedEx has a 52-week low of $228.08 and a 52-week high of $319.90.

FedEx (NYSE:FDX) last released its quarterly earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.55). FedEx had a net margin of 6.23% and a return on equity of 22.55%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm posted $4.87 earnings per share. FedEx’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that FedEx will post 21.27 earnings per share for the current year.

In other news, CEO John Alan Smith sold 11,285 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $296.00, for a total transaction of $3,340,360.00. Following the completion of the sale, the chief executive officer now directly owns 16,386 shares in the company, valued at approximately $4,850,256. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 4,720 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $297.30, for a total transaction of $1,403,256.00. Following the sale, the director now directly owns 10,312 shares of the company’s stock, valued at $3,065,757.60. The disclosure for this sale can be found here. Insiders sold a total of 32,240 shares of company stock valued at $9,608,596 over the last quarter. 8.16% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in FDX. OLD Mission Capital LLC purchased a new stake in FedEx during the 3rd quarter worth $219,000. Maverick Capital Ltd. purchased a new stake in FedEx during the 1st quarter worth $1,911,000. The PNC Financial Services Group Inc. boosted its position in FedEx by 6.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 82,104 shares of the shipping service provider’s stock worth $23,320,000 after purchasing an additional 5,098 shares during the period. IndexIQ Advisors LLC boosted its position in FedEx by 15.5% in the 1st quarter. IndexIQ Advisors LLC now owns 3,925 shares of the shipping service provider’s stock valued at $1,115,000 after buying an additional 528 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in FedEx by 571.4% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,350 shares of the shipping service provider’s stock valued at $667,000 after buying an additional 2,000 shares during the last quarter. 72.64% of the stock is owned by hedge funds and other institutional investors.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

Recommended Story: High-Yield Dividend Stocks

The Fly logo

Analyst Recommendations for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.