FedEx (NYSE:FDX) Price Target Raised to $240.00 at Wells Fargo & Company

FedEx (NYSE:FDX – Get Rating) had its price objective upped by analysts at Wells Fargo & Company from $225.00 to $240.00 in a report released on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 8.94% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird upped their price target on FedEx from $230.00 to $250.00 in a research report on Friday. StockNews.com started coverage on FedEx in a research report on Thursday. They set a “hold” rating on the stock. BMO Capital Markets upped their price target on FedEx from $180.00 to $210.00 and gave the company a “market perform” rating in a research report on Monday, March 13th. Credit Suisse Group upped their price target on FedEx from $257.00 to $269.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Bank of America boosted their price objective on FedEx from $233.00 to $305.00 in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.75.

FedEx Stock Up 8.0 %

FDX stock opened at $220.31 on Friday. The stock’s fifty day simple moving average is $201.14 and its two-hundred day simple moving average is $181.41. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. FedEx has a 1-year low of $141.92 and a 1-year high of $248.76. The stock has a market cap of $55.61 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.20 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.74. FedEx had a return on equity of 19.17% and a net margin of 3.54%. The business had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.74 billion. During the same quarter in the previous year, the firm earned $4.59 earnings per share. The business’s revenue was down 6.2% on a year-over-year basis. Analysts expect that FedEx will post 13.53 EPS for the current year.

Insider Activity

In other news, Director Amy B. Lane acquired 280 shares of FedEx stock in a transaction dated Tuesday, January 3rd. The shares were purchased at an average cost of $175.83 per share, for a total transaction of $49,232.40. Following the transaction, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.62% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently modified their holdings of FDX. Coston McIsaac & Partners purchased a new stake in FedEx during the 2nd quarter valued at about $30,000. Lakewood Asset Management LLC purchased a new stake in FedEx during the 4th quarter valued at about $26,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in FedEx during the 1st quarter valued at about $35,000. CenterStar Asset Management LLC purchased a new stake in FedEx during the 4th quarter valued at about $29,000. Finally, My Personal CFO LLC purchased a new stake in FedEx during the 4th quarter valued at about $31,000. 72.02% of the stock is currently owned by institutional investors.

FedEx Company Profile

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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.