Expeditors International of Washington (NASDAQ:EXPD) Sets New 1-Year High at $81.44

Expeditors International of Washington (NASDAQ:EXPD) hit a new 52-week high on Thursday . The stock traded as high as $81.44 and last traded at $81.44, with a volume of 20396 shares changing hands. The stock had previously closed at $79.19.

EXPD has been the subject of several research reports. Zacks Investment Research lowered Expeditors International of Washington from a “hold” rating to a “sell” rating and set a $78.00 price objective for the company. in a report on Tuesday, December 3rd. Robert W. Baird increased their price objective on Expeditors International of Washington from $77.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price objective on Expeditors International of Washington from $61.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. BidaskClub lowered Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. Finally, Barclays lowered Expeditors International of Washington from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $78.00 to $72.00 in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $72.40.

The stock has a 50-day simple moving average of $76.28 and a two-hundred day simple moving average of $74.42. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.14. The firm has a market cap of $13.41 billion, a PE ratio of 23.33 and a beta of 0.92.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, November 5th. The transportation company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. Expeditors International of Washington had a return on equity of 30.20% and a net margin of 7.56%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts expect that Expeditors International of Washington will post 3.54 earnings per share for the current year.

In other news, CFO Bradley S. Powell sold 17,364 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $76.15, for a total transaction of $1,322,268.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Philip M. Coughlin sold 185,686 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.74, for a total value of $14,249,543.64. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in EXPD. Vanguard Group Inc. grew its stake in shares of Expeditors International of Washington by 0.9% in the second quarter. Vanguard Group Inc. now owns 21,383,240 shares of the transportation company’s stock worth $1,622,132,000 after purchasing an additional 191,817 shares during the last quarter. BlackRock Inc. grew its stake in shares of Expeditors International of Washington by 3.7% in the second quarter. BlackRock Inc. now owns 15,364,822 shares of the transportation company’s stock worth $1,165,576,000 after purchasing an additional 546,889 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Expeditors International of Washington by 5.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,735,064 shares of the transportation company’s stock valued at $131,622,000 after acquiring an additional 93,467 shares in the last quarter. Invesco Ltd. boosted its position in Expeditors International of Washington by 29.3% during the 2nd quarter. Invesco Ltd. now owns 1,688,678 shares of the transportation company’s stock valued at $128,105,000 after acquiring an additional 382,184 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Expeditors International of Washington by 5.1% during the 3rd quarter. California Public Employees Retirement System now owns 1,433,739 shares of the transportation company’s stock valued at $106,512,000 after acquiring an additional 69,788 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

About Expeditors International of Washington (NASDAQ:EXPD)

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, and other logistics solutions.

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