Expeditors International of Washington, Inc. (NASDAQ:EXPD) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $62.16 and last traded at $57.49, with a volume of 1100683 shares trading hands. The stock had previously closed at $57.95.

The transportation company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.06. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.72 billion. Expeditors International of Washington had a net margin of 6.54% and a return on equity of 22.03%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS.

Several equities analysts recently commented on EXPD shares. Barclays PLC increased their target price on shares of Expeditors International of Washington from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, October 2nd. BidaskClub lowered shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Expeditors International of Washington in a report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $54.00 target price (down previously from $55.00) on shares of Expeditors International of Washington in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.00.

Several large investors have recently bought and sold shares of EXPD. Canada Pension Plan Investment Board lifted its position in Expeditors International of Washington by 10,555.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock valued at $115,000 after acquiring an additional 1,900 shares during the period. Mosaic Family Wealth LLC lifted its position in Expeditors International of Washington by 3.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 2,536 shares of the transportation company’s stock valued at $143,000 after acquiring an additional 93 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Expeditors International of Washington by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,605 shares of the transportation company’s stock valued at $147,000 after acquiring an additional 471 shares during the period. Merriman Wealth Management LLC purchased a new position in Expeditors International of Washington during the 3rd quarter valued at about $208,000. Finally, Barings LLC purchased a new position in Expeditors International of Washington during the 1st quarter valued at about $210,000. 93.80% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $10,473.77, a PE ratio of 24.98, a PEG ratio of 3.11 and a beta of 0.68.

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About Expeditors International of Washington

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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