Zacks Investment Research lowered shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Shares of Expeditors have outperformed its industry on a year-to-date basis. The company reported better-than-expected earnings and revenues in the third quarter. Growth was witnessed across all major divisions of the company. Moreover, volumes improved across all its primary divisions. The company's efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. However, high operating expenses are a cause of concern for Expeditors. Operating expenses in the third quarter rose 15.8% year-over-year. High operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. The challenging conditions in the airfreight services market due to overcapacity woes raise concerns. We are also concerned about the adverse impact of foreign currency movements.”

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group, Inc. began coverage on shares of Expeditors International of Washington in a research report on Monday, November 13th. They set a neutral rating and a $59.00 price target for the company. UBS AG increased their price target on shares of Expeditors International of Washington from $48.00 to $56.00 and gave the company a sell rating in a research report on Wednesday, November 8th. Credit Suisse Group increased their price target on shares of Expeditors International of Washington from $51.00 to $56.00 and gave the company an underperform rating in a research report on Wednesday, November 8th. Cowen and Company increased their price target on shares of Expeditors International of Washington from $54.00 to $58.00 and gave the company a market perform rating in a research report on Wednesday, November 8th. Finally, Barclays PLC increased their price target on shares of Expeditors International of Washington from $58.00 to $63.00 and gave the company an overweight rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Expeditors International of Washington has an average rating of Hold and an average target price of $59.38.

Shares of Expeditors International of Washington (NASDAQ:EXPD) traded down $0.65 during mid-day trading on Wednesday, hitting $59.13. 1,050,000 shares of the stock traded hands, compared to its average volume of 995,592. The stock has a market capitalization of $10,390.00, a P/E ratio of 24.85, a P/E/G ratio of 3.08 and a beta of 0.68. Expeditors International of Washington has a 52 week low of $50.48 and a 52 week high of $62.63.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 7th. The transportation company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.06. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.72 billion. Expeditors International of Washington had a net margin of 6.50% and a return on equity of 22.32%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. analysts forecast that Expeditors International of Washington will post 2.41 EPS for the current year.

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The firm also recently announced a semiannual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, November 30th. This represents a yield of 1.4%. Expeditors International of Washington’s dividend payout ratio is presently 35.29%.

A number of large investors have recently modified their holdings of the business. IFM Investors Pty Ltd bought a new position in Expeditors International of Washington during the third quarter worth about $314,000. RWC Asset Management LLP boosted its position in shares of Expeditors International of Washington by 22.2% in the third quarter. RWC Asset Management LLP now owns 185,114 shares of the transportation company’s stock valued at $11,081,000 after acquiring an additional 33,683 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Expeditors International of Washington by 1,326.5% in the third quarter. Neuberger Berman Group LLC now owns 334,400 shares of the transportation company’s stock valued at $20,017,000 after acquiring an additional 310,958 shares during the period. California Public Employees Retirement System boosted its position in shares of Expeditors International of Washington by 5.2% in the third quarter. California Public Employees Retirement System now owns 508,652 shares of the transportation company’s stock valued at $30,448,000 after acquiring an additional 25,202 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Expeditors International of Washington in the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

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

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