The Goldman Sachs Group Raises FedEx (NYSE:FDX) Price Target to $250.00

FedEx (NYSE:FDX – Get Rating) had its price target hoisted by equities researchers at The Goldman Sachs Group from $218.00 to $250.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 13.48% from the company’s previous close.

FDX has been the subject of several other research reports. Stifel Nicolaus upgraded shares of FedEx from a “hold” rating to a “buy” rating and increased their price objective for the company from $171.00 to $222.00 in a research note on Wednesday. Wells Fargo & Company lifted their price target on FedEx from $225.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group set a $225.00 price objective on FedEx in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on FedEx from $190.00 to $217.00 in a research note on Monday, November 28th. Finally, Morgan Stanley raised their price objective on shares of FedEx from $130.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.75.

FedEx Stock Performance

Shares of FDX opened at $220.31 on Friday. FedEx has a 52 week low of $141.92 and a 52 week high of $248.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a 50 day moving average price of $201.14 and a two-hundred day moving average price of $181.41. The firm has a market capitalization 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 released its quarterly earnings results on Thursday, March 16th. The shipping service provider reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. FedEx had a return on equity of 19.17% and a net margin of 3.54%. FedEx’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.59 EPS. Equities analysts forecast that FedEx will post 13.53 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane bought 280 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were acquired at an average cost of $175.83 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Rockefeller Capital Management L.P. lifted its holdings in shares of FedEx by 36.9% during the 4th 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 raised its position in FedEx by 5.9% during the fourth 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 in the last quarter. North Star Asset Management Inc. lifted its stake in FedEx by 0.6% during 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 purchasing an additional 442 shares during the last quarter. Lakewood Asset Management LLC purchased a new position in shares of FedEx in the 4th quarter worth about $26,000. Finally, Macquarie Group Ltd. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

About FedEx

(Get Rating)

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.