Expeditors International of Washington’s (EXPD) “Market Perform” Rating Reiterated at Cowen and Company
Expeditors International of Washington, Inc. (NASDAQ:EXPD)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Cowen and Company in a research note issued to investors on Wednesday. They currently have a $58.00 price target on the transportation company’s stock, up from their prior price target of $54.00. Cowen and Company’s price target suggests a potential downside of 6.51% from the company’s current price.
The analysts wrote, “We are maintaining our Perform rating on TRIP shares following a mixed 3Q, with EBITDA 16% above Opco on non-television advertising leverage. However, global OTAs’ measured approach toward meta-channels is causing management to reduce its click-based transaction (CBT) revenue outlook on softer auction pricing, despite improving mobile monetization and higher television advertising. Revenue-per-hotel- shopper (RPHS), -11% y/y from lower CPC bids, and guidance implies increased deceleration despite better mobile engagement. We view leaning heavily into TV as correct strategy to leverage new hotel shopper experience and cross-sell leading traffic. However, difficulty trying to pinpoint earnings inflecting back to sustainable growth keeps us on the sidelines. We would get more constructive if RPHS re- accelerates or more travel suppliers gain share in TRIP’s meta auction.””
Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $52.00 target price (down previously from $54.00) on shares of Expeditors International of Washington in a research note on Friday, August 11th. Barclays PLC raised their target price on Expeditors International of Washington from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Expeditors International of Washington from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Expeditors International of Washington in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.80.
Expeditors International of Washington (NASDAQ EXPD) opened at $62.04 on Wednesday. Expeditors International of Washington has a 1 year low of $47.23 and a 1 year high of $62.63. The stock has a market capitalization of $10,390.63, a PE ratio of 24.78, a PEG ratio of 3.08 and a beta of 0.68.
Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Monday, November 6th. The transportation company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.06. Expeditors International of Washington had a return on equity of 22.03% and a net margin of 6.54%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. equities analysts forecast that Expeditors International of Washington will post 2.33 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece of content was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/08/expeditors-international-of-washington-inc-expd-given-hold-rating-at-cowen-and-company.html.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Expeditors International of Washington by 2.8% in the second quarter. Vanguard Group Inc. now owns 19,704,393 shares of the transportation company’s stock valued at $1,112,904,000 after acquiring an additional 532,318 shares during the period. Janus Henderson Group PLC grew its stake in Expeditors International of Washington by 24,524.1% in the second quarter. Janus Henderson Group PLC now owns 4,786,930 shares of the transportation company’s stock valued at $270,366,000 after acquiring an additional 4,767,490 shares during the period. Commonwealth Bank of Australia grew its stake in Expeditors International of Washington by 2.3% in the second quarter. Commonwealth Bank of Australia now owns 2,865,201 shares of the transportation company’s stock valued at $161,824,000 after acquiring an additional 65,353 shares during the period. APG Asset Management N.V. grew its stake in Expeditors International of Washington by 115.2% in the third quarter. APG Asset Management N.V. now owns 1,432,508 shares of the transportation company’s stock valued at $85,750,000 after acquiring an additional 766,900 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Expeditors International of Washington by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,385,114 shares of the transportation company’s stock valued at $78,231,000 after acquiring an additional 13,419 shares during the period. 93.80% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Expeditors International of Washington Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington Inc. and related stocks with our FREE daily email newsletter.