TD Cowen Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target lifted by research analysts at TD Cowen from $328.00 to $337.00 in a note issued to investors on Friday. The firm presently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s target price indicates a potential upside of 22.15% from the stock’s previous close.

A number of other research analysts have also issued reports on FDX. Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price target on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, BMO Capital Markets reduced their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.12.

FedEx Stock Up 1.0 %

Shares of NYSE:FDX opened at $275.88 on Friday. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a market capitalization of $67.40 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. 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 fifty day moving average of $282.48 and a 200-day moving average of $281.66.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 EPS. On average, equities analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in FedEx in the 3rd quarter valued at $31,000. Abound Wealth Management increased its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth $47,000. Finally, Sachetta LLC lifted its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.