Expeditors International of Washington, Inc. (NASDAQ:EXPD) Receives $116.00 Consensus Price Target from Brokerages

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) have been assigned an average rating of “Reduce” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $116.00.

EXPD has been the topic of several research reports. Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Robert W. Baird boosted their price target on Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Stifel Nicolaus raised their price objective on Expeditors International of Washington from $112.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday, May 23rd. Bank of America boosted 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. Finally, UBS Group upgraded shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and upped their price target for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st.

Expeditors International of Washington Stock Performance

EXPD stock opened at $123.33 on Monday. Expeditors International of Washington has a fifty-two week low of $107.03 and a fifty-two week high of $131.17. The company has a market capitalization of $17.42 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 5.59 and a beta of 0.97. The business’s 50 day moving average price is $121.83 and its two-hundred day moving average price is $120.41.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share 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 analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $1.30 earnings per share. Expeditors International of Washington’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Expeditors International of Washington will post 5.01 earnings per share for the current year.

Institutional Investors Weigh In On Expeditors International of Washington

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in shares of Expeditors International of Washington by 224.5% during the 4th quarter. Private Advisor Group LLC now owns 3,620 shares of the transportation company’s stock valued at $460,000 after purchasing an additional 6,528 shares during the period. Principal Securities Inc. purchased a new stake in Expeditors International of Washington during the fourth quarter valued at approximately $176,000. Envestnet Portfolio Solutions Inc. raised its position in Expeditors International of Washington by 16.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,048 shares of the transportation company’s stock worth $260,000 after acquiring an additional 283 shares during the period. ING Groep NV boosted its stake in shares of Expeditors International of Washington by 7.2% during the 4th quarter. ING Groep NV now owns 19,904 shares of the transportation company’s stock worth $2,531,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Expeditors International of Washington during the 4th quarter valued at $74,763,000. 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.