Point72 Asia Singapore Pte. Ltd. Takes Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,617 shares of the transportation company’s stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Prudential PLC raised its stake in shares of Expeditors International of Washington by 80.5% in the fourth quarter. Prudential PLC now owns 88,169 shares of the transportation company’s stock worth $11,215,000 after purchasing an additional 39,321 shares during the last quarter. Swedbank AB purchased a new position in shares of Expeditors International of Washington during the first quarter worth $2,954,000. Banco Santander S.A. lifted its position in Expeditors International of Washington by 141.0% during the first quarter. Banco Santander S.A. now owns 89,903 shares of the transportation company’s stock valued at $10,930,000 after purchasing an additional 52,603 shares during the period. Magnetar Financial LLC purchased a new stake in Expeditors International of Washington in the first quarter valued at $1,305,000. Finally, Assenagon Asset Management S.A. grew its position in Expeditors International of Washington by 62.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,816 shares of the transportation company’s stock worth $22,814,000 after purchasing an additional 70,329 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXPD. Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Robert W. Baird upped their price objective 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. Bank of America lifted their target price on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $137.00 in a report on Thursday, August 1st. Finally, Wolfe Research upgraded Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat, Expeditors International of Washington has a consensus rating of “Hold” and a consensus price target of $116.00.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock opened at $128.08 on Wednesday. The business has a 50 day simple moving average of $122.26 and a two-hundred day simple moving average of $120.57. The stock has a market capitalization of $18.08 billion, a P/E ratio of 26.93, a PEG ratio of 5.71 and a beta of 0.97. Expeditors International of Washington, Inc. has a 12 month low of $107.03 and a 12 month high of $131.17.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts anticipate that Expeditors International of Washington, Inc. will post 5.01 EPS for the current fiscal year.

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.