FedEx (NYSE:FDX) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $165.00 price objective on the shipping service provider’s stock, down from their previous price objective of $190.00. BMO Capital Markets’ price target suggests a potential upside of 8.23% from the stock’s current price.
FDX has been the topic of several other reports. KeyCorp reduced their price objective on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. UBS Group set a $136.00 target price on FedEx and gave the company a “sell” rating in a research note on Wednesday, June 26th. Stephens set a $210.00 target price on FedEx and gave the company a “buy” rating in a research note on Wednesday, June 26th. Citigroup cut their target price on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley set a $131.00 target price on FedEx and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $175.96.
Shares of NYSE FDX opened at $152.45 on Wednesday. The business’s 50 day moving average is $160.65 and its two-hundred day moving average is $170.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39. FedEx has a 1-year low of $147.82 and a 1-year high of $250.95. The stock has a market capitalization of $45.27 billion, a P/E ratio of 9.82, a PEG ratio of 0.93 and a beta of 1.69.
In related news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Sageworth Trust Co purchased a new stake in FedEx during the second quarter worth $25,000. Evolution Wealth Advisors LLC purchased a new stake in FedEx during the first quarter worth $31,000. Nelson Roberts Investment Advisors LLC purchased a new stake in FedEx during the second quarter worth $34,000. Icon Wealth Partners LLC purchased a new stake in FedEx during the first quarter worth $38,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in FedEx during the second quarter worth $39,000. 71.34% of the stock is currently owned by institutional investors.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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