FedEx (FDX) PT Raised to $290.00 at Argus

FedEx (NYSE:FDX) had its price objective raised by Argus to $290.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Argus’ price target would suggest a potential upside of 15.99% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a report on Thursday, December 21st. Oppenheimer reiterated a “buy” rating and issued a $265.00 price target (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Citigroup reiterated a “buy” rating and issued a $280.00 price target on shares of FedEx in a report on Wednesday, December 20th. Stephens set a $306.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Bank of America lifted their price target on shares of FedEx from $247.00 to $293.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and a consensus target price of $254.59.

FedEx (NYSE FDX) opened at $250.02 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx has a fifty-two week low of $182.89 and a fifty-two week high of $255.11. The stock has a market cap of $66,977.76, a P/E ratio of 23.04, a PEG ratio of 1.51 and a beta of 1.36.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $2.80 earnings per share. research analysts forecast that FedEx will post 12.96 EPS for the current fiscal year.

In other news, CEO Michael L. Ducker sold 14,964 shares of FedEx stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction dated Thursday, December 21st. The stock was 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 directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,064 shares of company stock worth $7,820,036. Company insiders own 8.45% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Atlantic Trust Group LLC increased its position in shares of FedEx by 20.1% during the 3rd quarter. Atlantic Trust Group LLC now owns 58,224 shares of the shipping service provider’s stock valued at $13,134,000 after purchasing an additional 9,730 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of FedEx by 6.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 711,657 shares of the shipping service provider’s stock valued at $160,536,000 after purchasing an additional 41,956 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of FedEx by 118.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,706 shares of the shipping service provider’s stock valued at $385,000 after purchasing an additional 926 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at about $259,000. Finally, Moors & Cabot Inc. increased its position in shares of FedEx by 34.3% during the 3rd quarter. Moors & Cabot Inc. now owns 2,234 shares of the shipping service provider’s stock valued at $505,000 after purchasing an additional 571 shares during the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.

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About FedEx

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.