Expeditors International of Washington (NASDAQ:EXPD) Rating Increased to Hold at Wolfe Research

Wolfe Research upgraded shares of Expeditors International of Washington (NASDAQ:EXPD) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. UBS Group raised shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating and upped their target price for the stock from $138.00 to $166.00 in a report on Monday, November 17th. Zacks Research cut Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. Truist Financial lowered their price objective on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus boosted their price objective on Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Finally, Bank of America raised Expeditors International of Washington from a “neutral” rating to a “buy” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Expeditors International of Washington has an average rating of “Reduce” and an average target price of $134.30.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $145.25 on Monday. The company has a market capitalization of $19.39 billion, a P/E ratio of 25.39, a P/E/G ratio of 5.00 and a beta of 1.15. Expeditors International of Washington has a 1-year low of $100.47 and a 1-year high of $167.19. The firm’s 50 day simple moving average is $154.83 and its two-hundred day simple moving average is $139.86.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, February 24th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. On average, sell-side analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expeditors International of Washington

Several institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its holdings in shares of Expeditors International of Washington by 14.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock worth $69,316,000 after acquiring an additional 69,290 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Expeditors International of Washington by 6.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock worth $121,817,000 after purchasing an additional 62,500 shares during the period. Ascent Group LLC grew its holdings in Expeditors International of Washington by 237.3% during the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock valued at $1,265,000 after purchasing an additional 7,257 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Expeditors International of Washington during the 3rd quarter valued at about $464,000. Finally, Nordea Investment Management AB raised its position in Expeditors International of Washington by 7.4% in the 3rd quarter. Nordea Investment Management AB now owns 648,101 shares of the transportation company’s stock worth $78,867,000 after purchasing an additional 44,849 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.