FedEx (NYSE:FDX) PT Raised to $305.00 at Bank of America

FedEx (NYSE:FDX – Get Rating) had its price objective increased by equities research analysts at Bank of America from $233.00 to $305.00 in a research report issued on Friday, The Fly reports. Bank of America‘s price target points to a potential upside of 38.44% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Susquehanna raised their price objective on shares of FedEx from $170.00 to $225.00 in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on FedEx from $179.00 to $199.00 and gave the stock a “neutral” rating in a report on Friday, March 3rd. Barclays boosted their price objective on FedEx from $240.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI increased their target price on FedEx from $196.00 to $234.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. Finally, StockNews.com started coverage on FedEx in a report on Thursday. They issued a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

FedEx Price Performance

Shares of FedEx stock opened at $220.31 on Friday. The stock has a market capitalization of $55.61 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.20 and a beta of 1.31. FedEx has a 1-year low of $141.92 and a 1-year high of $248.76. The firm has a fifty day simple moving average of $201.14 and a 200-day simple moving average of $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 (NYSE:FDX – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.74 billion. FedEx had a net margin of 3.54% and a return on equity of 19.17%. FedEx’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted $4.59 EPS. On average, sell-side analysts expect that FedEx will post 13.53 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane bought 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, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its stake in shares of FedEx by 36.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 86,286 shares of the shipping service provider’s stock worth $14,944,000 after buying an additional 23,247 shares during the period. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of FedEx by 5.9% in the 4th quarter. Birmingham Capital Management Co. Inc. AL now owns 16,315 shares of the shipping service provider’s stock valued at $2,826,000 after purchasing an additional 915 shares during the last quarter. North Star Asset Management Inc. lifted its stake in shares of FedEx by 0.6% during the 4th quarter. North Star Asset Management Inc. now owns 71,473 shares of the shipping service provider’s stock worth $12,379,000 after acquiring an additional 442 shares during the last quarter. Lakewood Asset Management LLC bought a new stake in shares of FedEx during the 4th quarter worth approximately $26,000. Finally, Macquarie Group Ltd. raised its position in FedEx by 4.1% during the 4th quarter. Macquarie Group Ltd. now owns 12,027 shares of the shipping service provider’s stock valued at $2,083,000 after purchasing an additional 474 shares in the last quarter. 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.