FedEx Price Target Adjusted to $350 by Barclays Analysts

FedEx (NYSE:FDX) has received a revised price target from Barclays, which has lowered its expectation from $365.00 to $350.00. This update was shared in a research note published for investors on Friday. Despite the price adjustment, Barclays maintains an "overweight" rating on FedEx's stock, indicating a positive outlook for the company's future performance. The new price target suggests a potential upside of approximately 52.02% from FedEx's current share price.

Additional Analyst Insights

Other analysts have also offered their perspectives on FedEx. Truist Financial began coverage of FedEx with a "buy" rating and a price target set at $305.00 in a report published on March 13. In contrast, Piper Sandler downgraded FedEx to a "neutral" rating as of February 3. TD Cowen adjusted their target price downwards from $337.00 to $310.00 while still maintaining a "buy" rating. Oppenheimer reiterated a "market perform" rating on the stock in a report released the same day as Barclays’s announcement. Furthermore, Citigroup lowered their price target from $347.00 to $317.00, also issuing a "buy" rating in their analysis. Currently, there are two analysts rating the stock as a sell, nine recommending it as a hold, eighteen as a buy, and one analyst has given it a strong buy rating. Overall, the consensus rating for FedEx stands at "Moderate Buy" with an average price target set at $301.60, according to MarketBeat.com.

FedEx Stock Performance

On Friday, during mid-day trading, FedEx's stock experienced a decline, dropping by $15.98 and reaching a price of $230.23. The trading volume amounted to 5,959,103 shares, which is significantly higher than the average volume of 1,752,274 shares. FedEx's fifty-day moving average stands at $260.76, while its two-hundred-day moving average is $273.11. The stock has fluctuated within a one-year range, achieving a low of $217.22 and a high of $313.84. Financial ratios indicate a debt-to-equity ratio of 0.73, a quick ratio of 1.19, and a current ratio of 1.23. The company’s market capitalization is approximately $55.45 billion, coupled with a price-to-earnings ratio of 14.67 and a price-to-earnings-growth ratio of 1.11.

Recent Earnings Results

FedEx last reported its quarterly earnings on March 20, announcing earnings per share (EPS) of $4.51, which fell short of the analysts’ expectations of $4.56 by $0.05. The return on equity was recorded at 15.59%, and the net profit margin was 4.45%. In terms of revenue, FedEx generated $22.16 billion during the quarter, exceeding analysts' predictions of $21.96 billion. The revenue also showed an increase of 1.9% year-over-year. Analysts forecast that FedEx will post an average EPS of 19.14 for the current fiscal year.

Insider Transactions

In the realm of insider trading, Director Amy B. Lane purchased 333 shares of FedEx stock on December 26 at an average cost of $276.06 per share, totaling around $91,927.98. This purchase increased her ownership of the stock. Conversely, Director Susan C. Schwab sold 3,980 shares on January 14 at an average price of $276.45, amounting to about $1,100,271.00, resulting in a 30.89% reduction in her ownership. Insiders collectively hold about 8.87% of FedEx’s shares.

Institutional Investors' Position

Several hedge funds have recently adjusted their stakes in FedEx. United Bank acquired a new position worth approximately $615,000 in the company's stock during the third quarter. Quest Partners LLC also bought a new stake in FedEx valued at around $123,000. Additionally, Pathstone Holdings LLC increased its position by 2.1% in the same quarter, owning 28,592 shares valued at $7,827,000 after acquiring an extra 586 shares. Other notable changes include B. Metzler seel. Sohn & Co. Holding AG, which entered a new position worth about $2,611,000, and PNC Financial Services Group Inc., which raised its stake by 0.3%, owning 76,897 shares worth around $21,045,000. Institutional investors and hedge funds now control approximately 84.47% of FedEx's stock.

About FedEx

FedEx Corporation is a global provider of transportation, e-commerce, and business services. The company operates through several segments, including FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. Its FedEx Express segment delivers express transportation, small-package ground delivery, and freight services.

FedEx, Barclays, stock