JPMorgan Chase & Co. Issues Positive Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target upped by JPMorgan Chase & Co. from $350.00 to $366.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 29.18% from the stock’s current price.

A number of other equities research analysts also recently issued reports on FDX. Bernstein Bank increased their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. BMO Capital Markets cut their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Barclays increased their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.68.

FedEx Stock Up 0.2 %

Shares of NYSE:FDX opened at $283.32 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market cap of $69.22 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a 50 day simple moving average of $279.29 and a 200 day simple moving average of $279.60.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $4.55 EPS. As a group, research analysts expect that FedEx will post 19.59 earnings per share for the current year.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in FDX. Kingswood Wealth Advisors LLC lifted its holdings in FedEx by 43.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,035 shares of the shipping service provider’s stock valued at $910,000 after purchasing an additional 926 shares during the last quarter. CWM LLC lifted its holdings in FedEx by 8.5% during the 2nd quarter. CWM LLC now owns 7,571 shares of the shipping service provider’s stock valued at $2,270,000 after purchasing an additional 593 shares during the last quarter. Cullinan Associates Inc. lifted its holdings in FedEx by 13.3% during the 2nd quarter. Cullinan Associates Inc. now owns 850 shares of the shipping service provider’s stock valued at $255,000 after purchasing an additional 100 shares during the last quarter. Aprio Wealth Management LLC bought a new position in FedEx during the 2nd quarter valued at about $333,000. Finally, Simplicity Wealth LLC lifted its holdings in FedEx by 6.7% during the 2nd quarter. Simplicity Wealth LLC now owns 18,147 shares of the shipping service provider’s stock valued at $5,441,000 after purchasing an additional 1,134 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.