Morning Recap : Cigna Corp. (CI), FedEx Corporation (FDX), NCR Corporation

Analysts at Robert W. Baird lowered their price target on shares of FedEx (NYSE:FDX) from $200.00 to $195.00 in a report issued on Friday, StockTargetPrices.com reports.

FedEx says it will raise a number of shipping rates in January, and will increase the surcharge on very large packages starting in November. With the stock now at around $151, shares are valued at just 14 times forward estimates of $10.83 a share, three points lower than the S&P 500. The firm has a 50-day moving average of $160.40 and a 200-day moving average of $169.79.

FedEx (NYSE:FDX) traded down 1.03% during midday trading on Monday, reaching $149.53.

FedEx reports its first-quarter fiscal 2016 earnings Wednesday before the opening bell. The business earned $12.10 billion during the quarter, compared to the consensus estimate of $12.31 billion. Shareholders of record on Thursday, September 10th will be issued a $0.25 dividend.

Shares of FedEx Corporation (NYSE:FDX) appreciated by 1.66% during the past week but lost 8.33% on a 4-week basis. Value investors believe that the market is not always efficiently matching a stock’s performance to its current price level. This makes FDX stock a bargain today, despite its valuation at a price to earnings ratio of 41 against 21 for the S&P 500 (SPX) index. Zacks downgraded shares of FedEx from a hold rating to a sell rating in a report on Tuesday, May 26th. On June 11, 2015 The shares registered one year high of $185.19 and one year low was seen on August 24, 2015 at $130.13.

FedEx is in the process of buying TNT Express NV for $4.8 billion.

The increases will also cover FedEx Freight and FedEx SmartPost. FedEx Express provides a wide selection of national and global transportation services for delivery of cargo and packages.

Earlier in 2014, both FedEx and United Parcel Service Inc. made changes that effectively increased prices on some ground shipments by factoring box size as well as weight.

-AIRFREIGHT: While air freight capacity utilization fell to five-year lows in July for the industry as a whole, according to Morgan Stanley analysts, the impact on FedEx should be “relatively modest”. FedEx Services supplies FedEx’s other companies with information technology, marketing, sales, communications, customer service and certain other back-office support. FedEx also said it was increasing the surcharge on packages that exceed maximum dimensions effective November. 2.