FedEx (NYSE:FDX) Downgraded by StockNews.com

FedEx (NYSE:FDXGet Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts also recently issued reports on the company. Barclays set a $320.00 price target on FedEx in a research report on Wednesday, June 15th. JPMorgan Chase & Co. decreased their target price on FedEx from $297.00 to $282.00 and set an “overweight” rating on the stock in a research report on Friday, March 18th. Berenberg Bank set a $330.00 target price on FedEx in a research report on Friday, May 27th. The Goldman Sachs Group decreased their target price on FedEx from $331.00 to $291.00 and set a “buy” rating on the stock in a research report on Tuesday, June 7th. Finally, Bank of America decreased their target price on FedEx from $297.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, FedEx has a consensus rating of “Buy” and a consensus target price of $298.30.

Shares of FDX stock opened at $229.90 on Tuesday. The company has a market capitalization of $59.59 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.85 and a beta of 1.31. The business’s 50 day moving average is $211.00 and its two-hundred day moving average is $227.19. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. FedEx has a 12-month low of $192.82 and a 12-month high of $304.59.

In other news, Director Paul S. Walsh sold 3,720 shares of the firm’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the completion of the transaction, the director now directly owns 14,000 shares in the company, valued at $2,889,880. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.16% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Quent Capital LLC purchased a new position in shares of FedEx during the fourth quarter worth $25,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in FedEx in the fourth quarter valued at $26,000. Holloway Wealth Management LLC purchased a new position in FedEx in the first quarter valued at $29,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in FedEx in the fourth quarter valued at $33,000. Finally, Level Financial Advisors Inc. purchased a new position in FedEx in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 79.92% of the company’s stock.

About FedEx (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

Further Reading

Analyst Recommendations for FedEx (NYSE:FDX)

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