FedEx (NYSE:FDX) Stock Price Expected to Rise, Citigroup Analyst Says

FedEx (NYSE:FDX) had its price objective upped by analysts at Citigroup from $301.00 to $331.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price objective suggests a potential upside of 15.01% from the stock’s current price.

FDX has been the subject of several other reports. Raymond James reduced their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Stephens reissued an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Finally, Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $315.42.

FedEx Stock Performance

NYSE FDX traded down $2.00 during trading hours on Tuesday, reaching $287.79. The stock had a trading volume of 611,840 shares, compared to its average volume of 1,806,471. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market cap of $70.31 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.17. The stock has a fifty day moving average of $275.18 and a 200 day moving average of $275.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 EPS. Sell-side analysts predict that FedEx will post 19.59 earnings per share for the current year.

Institutional Trading of FedEx

Hedge funds have recently modified their holdings of the business. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new position in FedEx during the second quarter worth about $39,000. Abound Wealth Management raised its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.