BMO Capital Markets Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price dropped by research analysts at BMO Capital Markets from $330.00 to $275.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 19.43% from the stock’s previous close.

Several other research analysts also recently issued reports on FDX. Bank of America lowered their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company lowered their target price on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and lowered their target price for the company from $283.00 to $221.00 in a report on Friday. Finally, TD Cowen lowered their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Trading Down 6.5 %

Shares of FedEx stock opened at $230.25 on Friday. FedEx has a 1 year low of $217.22 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The company’s fifty day moving average is $259.95 and its two-hundred day moving average is $272.49.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the previous year, the business posted $3.86 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Insider Activity

In related news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI grew its holdings in FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the period. Regal Investment Advisors LLC grew its stake in FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after buying an additional 38 shares during the period. Cetera Trust Company N.A grew its stake in FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares during the period. Griffin Asset Management Inc. grew its stake in FedEx by 0.4% during the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. Finally, Aviso Financial Inc. grew its stake in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

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.