Barclays Raises FedEx (NYSE:FDX) Price Target to $280.00

FedEx (NYSE:FDX – Get Rating) had its target price upped by analysts at Barclays from $240.00 to $280.00 in a report released on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price objective would suggest a potential upside of 27.09% from the company’s previous close.

Several other research firms have also issued reports on FDX. BMO Capital Markets lifted their price objective on shares of FedEx from $180.00 to $210.00 and gave the company a “market perform” rating in a research note on Monday, March 13th. StockNews.com initiated coverage on shares of FedEx in a research report on Thursday. They set a “hold” rating for the company. Stifel Nicolaus raised shares of FedEx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $171.00 to $222.00 in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of FedEx from $185.00 to $225.00 in a report on Friday, March 10th. Finally, Robert W. Baird dropped their price objective on shares of FedEx from $240.00 to $230.00 in a report on Thursday, December 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $230.75.

FedEx Trading Up 8.0 %

Shares of NYSE:FDX opened at $220.31 on Friday. The firm has a fifty day moving average of $201.14 and a two-hundred day moving average of $181.41. The firm has a market capitalization of $55.61 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.20 and a beta of 1.31. FedEx has a 12-month low of $141.92 and a 12-month high of $248.76. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.83.

FedEx (NYSE:FDX – Get Rating) last issued its earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. FedEx had a net margin of 3.54% and a return on equity of 19.17%. The company had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. During the same quarter last year, the business posted $4.59 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts expect that FedEx will post 13.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Amy B. Lane acquired 280 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were purchased at an average cost of $175.83 per share, with a total value of $49,232.40. Following the completion of the purchase, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of FedEx by 1.2% during the third quarter. Vanguard Group Inc. now owns 18,835,505 shares of the shipping service provider’s stock worth $2,796,508,000 after purchasing an additional 220,183 shares in the last quarter. Dodge & Cox lifted its position in shares of FedEx by 0.6% during the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider’s stock worth $3,950,795,000 after purchasing an additional 98,022 shares in the last quarter. BlackRock Inc. lifted its holdings in FedEx by 2.9% in the third quarter. BlackRock Inc. now owns 16,818,843 shares of the shipping service provider’s stock valued at $2,497,094,000 after buying an additional 469,345 shares during the period. Primecap Management Co. CA lifted its holdings in FedEx by 3.3% in the third quarter. Primecap Management Co. CA now owns 13,878,717 shares of the shipping service provider’s stock valued at $2,060,573,000 after buying an additional 445,125 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,234,930 shares of the shipping service provider’s stock valued at $732,448,000 after buying an additional 35,946 shares during the period. 72.02% of the stock is owned by institutional investors.

About FedEx

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.