FedEx (NYSE:FDX) Price Target Raised to $365.00 at Barclays

FedEx (NYSE:FDX) had its price objective boosted by investment analysts at Barclays from $350.00 to $365.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price objective points to a potential upside of 24.88% from the stock’s previous close.

FDX has been the subject of a number of other reports. Susquehanna dropped their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Raymond James cut their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Performance

NYSE:FDX opened at $292.28 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a 50 day simple moving average of $275.04 and a 200 day simple moving average of $275.95. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The stock has a market cap of $71.41 billion, a P/E ratio of 18.03, a PEG ratio of 1.17 and a beta of 1.17.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new position in FedEx in the second quarter worth $39,000. Abound Wealth Management increased its stake in shares of 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 acquiring an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the third quarter valued at approximately $47,000. 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.