Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Free Report) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $139.71, but opened at $148.90. Expeditors International of Washington shares last traded at $147.9390, with a volume of 217,074 shares.
The transportation company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same period in the previous year, the firm earned $1.47 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis.
Analyst Ratings Changes
Several research firms have weighed in on EXPD. Truist Financial lowered their target price on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, February 25th. Susquehanna decreased their target price on shares of Expeditors International of Washington from $160.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Barclays boosted their price target on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Bank of America raised shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a research note on Friday, January 9th. Finally, Wolfe Research raised Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $134.30.
Institutional Trading of Expeditors International of Washington
Institutional investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its position in Expeditors International of Washington by 14.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,765 shares of the transportation company’s stock worth $253,000 after acquiring an additional 225 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Expeditors International of Washington by 18.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,207 shares of the transportation company’s stock valued at $316,000 after purchasing an additional 344 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Expeditors International of Washington by 23.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 3,219 shares of the transportation company’s stock valued at $478,000 after purchasing an additional 603 shares in the last quarter. Arbejdsmarkedets Tillaegspension bought a new position in shares of Expeditors International of Washington during the 1st quarter valued at $10,052,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Expeditors International of Washington by 8.8% during the 1st quarter. International Assets Investment Management LLC now owns 3,917 shares of the transportation company’s stock valued at $565,000 after purchasing an additional 318 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Expeditors International of Washington Trading Up 6.8%
The firm has a market cap of $19.84 billion, a P/E ratio of 26.06, a P/E/G ratio of 5.00 and a beta of 1.04. The business’s fifty day moving average price is $145.31 and its two-hundred day moving average price is $146.24.
About Expeditors International of Washington
Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.
The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.
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