Citigroup Increases FedEx (FDX) Price Target to $275.00

FedEx (NYSE:FDX) had its price target upped by analysts at Citigroup to $275.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Citigroup’s price objective would suggest a potential upside of 15.25% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Vetr lowered FedEx to a “sell” rating and set a $204.84 price target on the stock. in a research report on Thursday, August 31st. J P Morgan Chase & Co raised their price target on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Goldman Sachs Group started coverage on FedEx in a research report on Monday, November 13th. They issued a “buy” rating and a $270.00 price target on the stock. Credit Suisse Group restated an “outperform” rating and issued a $233.00 price target (down from $242.00) on shares of FedEx in a research report on Friday, September 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $235.00 price target on shares of FedEx in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $233.41.

FedEx (NYSE FDX) opened at $238.61 on Tuesday. The company has a market capitalization of $64,551.20, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx has a 12-month low of $182.89 and a 12-month high of $243.06.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter in the previous year, the business posted $2.90 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. equities research analysts predict that FedEx will post 12.47 earnings per share for the current fiscal year.

In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of FedEx stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of FedEx stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock worth $9,024,637 in the last three months. Company insiders own 8.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Salem Investment Counselors Inc. increased its position in shares of FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC increased its position in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of FedEx in the first quarter valued at about $100,000. Alexandria Capital LLC increased its position in shares of FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx in the third quarter valued at about $132,000. 75.73% of the stock is currently owned by hedge funds and other institutional investors.

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About FedEx

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx (NYSE:FDX)

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