Expeditors International of Washington Inc. (NASDAQ:EXPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Expeditors performed disappointingly in the third quarter of 2016 reporting lower-than-expected earnings and revenues. Moreover, both metrics declined on a year-over-year basis. Soft air freight and ocean freight revenues hurt results in the quarter.  Gross profit also declined in the quarter due to lower revenues. The lackluster earnings report naturally displeased investors and resulted in the stock declining following the release. We are however encouraged by Expeditors' efforts to reward shareholders through dividend payments and buybacks. The company hiked its dividend payout by 11.1% in May 2016. During the third quarter, the company repurchased 2 million shares at an average price of $51.16 per share.”

EXPD has been the topic of several other reports. Stifel Nicolaus upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Thursday, August 25th. Credit Suisse Group AG reiterated a “sell” rating and set a $46.00 price objective on shares of Expeditors International of Washington in a research report on Wednesday, August 3rd. Wolfe Research cut shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC reiterated a “buy” rating on shares of Expeditors International of Washington in a research report on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $50.80.

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

Expeditors International of Washington (NASDAQ:EXPD) opened at 52.79 on Wednesday. The firm has a 50-day moving average price of $51.02 and a 200 day moving average price of $50.16. Expeditors International of Washington has a 52-week low of $40.41 and a 52-week high of $52.85. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 22.36 and a beta of 0.69.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.06. Expeditors International of Washington had a return on equity of 24.45% and a net margin of 7.18%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts predict that Expeditors International of Washington will post $2.35 EPS for the current year.

The firm also recently disclosed a dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.40 dividend. The ex-dividend date is Tuesday, November 29th. Expeditors International of Washington’s payout ratio is presently 33.90%.

In other Expeditors International of Washington news, Director Michael J. Malone sold 32,000 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $51.13, for a total transaction of $1,636,160.00. Following the completion of the transaction, the director now owns 86,771 shares of the company’s stock, valued at approximately $4,436,601.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Malone sold 51,559 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $51.63, for a total transaction of $2,661,991.17. Following the transaction, the director now directly owns 133,074 shares of the company’s stock, valued at approximately $6,870,610.62. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. purchased a new position in Expeditors International of Washington during the third quarter worth $100,000. Mosaic Family Wealth LLC raised its position in Expeditors International of Washington by 3.8% in the third quarter. Mosaic Family Wealth LLC now owns 2,394 shares of the company’s stock worth $123,000 after buying an additional 87 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in Expeditors International of Washington by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,450 shares of the company’s stock worth $120,000 after buying an additional 259 shares in the last quarter. TLP Group LLC purchased a new position in Expeditors International of Washington during the third quarter worth $126,000. Finally, Mizuho Asset Management Co. Ltd. raised its position in Expeditors International of Washington by 61.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,537 shares of the company’s stock worth $124,000 after buying an additional 970 shares in the last quarter. 91.47% of the stock is owned by hedge funds and other institutional investors.

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Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a logistics company. The Company is a third party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of 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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