Expeditors International of Washington (NASDAQ:EXPD) Lowered to “Underweight” at Morgan Stanley

Morgan Stanley cut shares of Expeditors International of Washington (NASDAQ:EXPD) from an equal weight rating to an underweight rating in a report released on Thursday, Price Targets.com reports. The firm currently has $95.00 price objective on the transportation company’s stock, down from their previous price objective of $110.00.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upped their target price on shares of Expeditors International of Washington from $118.00 to $125.00 and gave the stock an equal weight rating in a research note on Wednesday, November 3rd. Zacks Investment Research raised shares of Expeditors International of Washington from a hold rating to a strong-buy rating and set a $131.00 target price for the company in a research note on Tuesday, October 5th. Finally, Barclays upped their target price on shares of Expeditors International of Washington from $96.00 to $100.00 and gave the stock an underweight rating in a research note on Monday, August 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Expeditors International of Washington has an average rating of Hold and a consensus target price of $115.88.

Shares of NASDAQ EXPD opened at $125.80 on Thursday. The firm has a market cap of $21.31 billion, a PE ratio of 18.61 and a beta of 0.79. Expeditors International of Washington has a 1-year low of $88.71 and a 1-year high of $132.28. The company has a fifty day moving average price of $122.64 and a 200 day moving average price of $124.17.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, November 2nd. The transportation company reported $2.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.32. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.45 billion. Expeditors International of Washington had a net margin of 8.03% and a return on equity of 38.56%. During the same period in the prior year, the business earned $1.12 EPS. Analysts expect that Expeditors International of Washington will post 7.36 earnings per share for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a dividend yield of 0.9%. Expeditors International of Washington’s dividend payout ratio is 17.16%.

In related news, VP Jeffrey F. Dickerman sold 276 shares of the firm’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $127.05, for a total value of $35,065.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Benjamin G. Clark sold 7,602 shares of the stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $130.69, for a total transaction of $993,505.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,638 shares of company stock valued at $1,505,994. Company insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EXPD. BlackRock Inc. boosted its position in shares of Expeditors International of Washington by 11.7% during the 2nd quarter. BlackRock Inc. now owns 21,303,726 shares of the transportation company’s stock worth $2,697,051,000 after acquiring an additional 2,235,058 shares in the last quarter. Amundi acquired a new stake in shares of Expeditors International of Washington during the 2nd quarter worth approximately $175,245,000. Nordea Investment Management AB boosted its position in shares of Expeditors International of Washington by 50.1% during the 3rd quarter. Nordea Investment Management AB now owns 2,450,916 shares of the transportation company’s stock worth $299,379,000 after acquiring an additional 818,513 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Expeditors International of Washington by 1,002.8% during the 2nd quarter. APG Asset Management N.V. now owns 535,124 shares of the transportation company’s stock worth $57,127,000 after acquiring an additional 486,600 shares in the last quarter. Finally, Marathon Asset Mgmt Ltd acquired a new stake in shares of Expeditors International of Washington during the 3rd quarter worth approximately $55,918,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc engages in the provision of global logistics services. The firm offers airfreight, ocean freight and ocean and customs brokerage and other services. It also provides customer solutions such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)