Expeditors International of Washington (NASDAQ:EXPD) Downgraded by Wolfe Research

Wolfe Research cut shares of Expeditors International of Washington (NASDAQ:EXPD) from a hold rating to a strong sell rating in a report issued on Wednesday morning, Zacks.com reports.

EXPD has been the topic of several other reports. Robert W. Baird lifted their target price on Expeditors International of Washington from $118.00 to $126.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. UBS Group raised Expeditors International of Washington from a sell rating to a neutral rating and lifted their target price for the stock from $95.00 to $137.00 in a report on Thursday, August 1st. Benchmark reaffirmed a hold rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Finally, Bank of America lifted their target price on Expeditors International of Washington from $131.00 to $132.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of Hold and a consensus price target of $116.00.

Expeditors International of Washington Stock Up 1.4 %

NASDAQ:EXPD opened at $123.06 on Wednesday. The business’s 50-day simple moving average is $122.55 and its two-hundred day simple moving average is $120.97. The stock has a market cap of $17.37 billion, a PE ratio of 26.41, a P/E/G ratio of 5.51 and a beta of 0.97. Expeditors International of Washington has a 52 week low of $107.03 and a 52 week high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the firm posted $1.30 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Expeditors International of Washington will post 5.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Black Diamond Financial LLC boosted its position in shares of Expeditors International of Washington by 5.4% during the second quarter. Black Diamond Financial LLC now owns 1,748 shares of the transportation company’s stock valued at $218,000 after buying an additional 89 shares during the period. Cape ANN Savings Bank boosted its position in shares of Expeditors International of Washington by 2.9% during the fourth quarter. Cape ANN Savings Bank now owns 3,379 shares of the transportation company’s stock valued at $427,000 after buying an additional 95 shares during the period. SkyOak Wealth LLC boosted its position in shares of Expeditors International of Washington by 3.9% during the first quarter. SkyOak Wealth LLC now owns 2,529 shares of the transportation company’s stock valued at $307,000 after buying an additional 95 shares during the period. Blair William & Co. IL boosted its position in shares of Expeditors International of Washington by 1.2% during the second quarter. Blair William & Co. IL now owns 7,776 shares of the transportation company’s stock valued at $970,000 after buying an additional 95 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Expeditors International of Washington by 1.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,853 shares of the transportation company’s stock valued at $730,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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, specialized cargo monitoring and tracking, and other supply chain solutions.