Robert W. Baird Raises FedEx (NYSE:FDX) Price Target to $250.00

FedEx (NYSE:FDX – Get Rating) had its price target hoisted by equities researchers at Robert W. Baird from $230.00 to $250.00 in a report released on Friday, The Fly reports. Robert W. Baird’s price target would indicate a potential upside of 13.48% from the stock’s previous close.

A number of other brokerages also recently commented on FDX. Bank of America upgraded shares of FedEx from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $204.00 to $233.00 in a research report on Thursday, February 2nd. Susquehanna upped their price objective on shares of FedEx from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 21st. Wells Fargo & Company upped their price objective on shares of FedEx from $185.00 to $225.00 in a research report on Friday, March 10th. BMO Capital Markets upped their price objective on shares of FedEx from $180.00 to $210.00 and gave the stock a “market perform” rating in a research report on Monday, March 13th. Finally, The Goldman Sachs Group set a $218.00 price objective on shares of FedEx in a research report on Wednesday, February 15th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.75.

FedEx Stock Up 8.0 %

Shares of NYSE:FDX opened at $220.31 on Friday. 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. The firm has a fifty day moving average price of $201.14 and a 200 day moving average price of $181.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.30 and a quick ratio of 1.25. FedEx has a 1-year low of $141.92 and a 1-year high of $248.76.

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

Insiders Place Their Bets

In other news, Director Amy B. Lane purchased 280 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were bought at an average cost of $175.83 per share, with a total value of $49,232.40. Following the purchase, the director now directly owns 1,529 shares of the company’s stock, valued at $268,844.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Several hedge funds have recently modified their holdings of FDX. Rockefeller Capital Management L.P. boosted its position 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 acquiring an additional 23,247 shares during the last quarter. Birmingham Capital Management Co. Inc. AL boosted its position in shares of FedEx by 5.9% in the fourth quarter. Birmingham Capital Management Co. Inc. AL now owns 16,315 shares of the shipping service provider’s stock worth $2,826,000 after acquiring an additional 915 shares during the last quarter. North Star Asset Management Inc. boosted its position in shares of FedEx by 0.6% in the fourth 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 acquired a new stake in shares of FedEx in the fourth quarter worth approximately $26,000. Finally, Macquarie Group Ltd. boosted its position in shares of FedEx by 4.1% in the fourth quarter. Macquarie Group Ltd. now owns 12,027 shares of the shipping service provider’s stock worth $2,083,000 after acquiring an additional 474 shares during the last quarter. 72.02% of the stock is owned by institutional investors and hedge funds.

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.