Washington Expeditors International (NASDAQ: EXPD – Get a rating) has been updated by analysts from StockNews.com from a “hold” rating to a “buy” rating in a research note released Friday to investors.
Other equity research analysts have also recently published research reports on the company. Wolfe Research downgraded Washington’s Expeditors International from a “peer performing” rating to an “underperforming” rating in a Tuesday, July 12, report. Cowen raised his price target on Expeditors International of Washington from $111.00 to $125.00 in a Thursday, May 5 report. Cowen raised his target price on Expeditors International of Washington from $111.00 to $125.00 in a Thursday, May 5 research report. Wells Fargo & Company cut its price target on Washington’s Expeditors International from $101.00 to $97.00 and set an “equal weight” rating on the stock in a Friday, July 15 research report. Finally, Barclays cut its price target on Washington’s Expeditors International from $105.00 to $95.00 and set an “underweight” rating on the stock in a Tuesday, July 12 research report. Three investment analysts gave the stock a sell rating, five gave the stock a hold rating and one gave the stock a buy rating. Based on data from MarketBeat.com, Expeditors International of Washington currently has an average rating of “Hold” and an average price target of $108.38.
Washington Expeditors International down 0.7%
EXPD stock traded at $0.76 at midday on Friday, hitting $107.19. The company’s shares had a trading volume of 986,033 shares, compared to its average volume of 1,377,491. The company has a market capitalization of $17.98 billion, a price-earnings ratio of 11.82 and a beta of 0.88. The company’s 50-day moving average price is $100.43 and its 200-day moving average price is $102.95. Washington Expeditors International has a 12-month low of $92.58 and a 12-month high of $137.80.
Washington Expeditors International (NASDAQ: EXPD – Get a rating) last released its quarterly earnings data on Tuesday, August 2. The transportation company reported EPS of $2.27 for the quarter, beating the consensus estimate of $2.13 by $0.14. The company posted revenue of $4.60 billion in the quarter, versus a consensus estimate of $4.70 billion. Expeditors International of Washington had a return on equity of 42.95% and a net margin of 8.09%. The company’s quarterly revenue increased 27.5% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.84. As a group, equity analysts expect Expeditors International of Washington to post EPS of 7.88 for the current fiscal year.
Institutional entries and exits
Several hedge funds and other institutional investors have recently bought and sold shares of EXPD. Exchange Traded Concepts LLC increased its stake in Washington-based Expeditors International shares by 23.5% in the first quarter. Exchange Traded Concepts LLC now owns 3,953 shares of the transportation company valued at $408,000 after purchasing an additional 753 shares during the period. Envestnet Asset Management Inc. increased its stake in Washington-based Expeditors International shares by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 317,538 shares of the transportation company valued at $32,757,000 after purchasing an additional 1,131 shares during the period. AE Wealth Management LLC increased its stake in shares of Expeditors International of Washington by 15.0% in the first quarter. AE Wealth Management LLC now owns 5,176 shares of the transportation company valued at $534,000 after purchasing an additional 674 shares during the period. Mackenzie Financial Corp increased its stake in shares of Washington-based Expeditors International to 98.2% in the fourth quarter. Mackenzie Financial Corp now owns 101,319 shares of the transportation company valued at $13,606,000 after buying an additional 50,194 shares during the period. Finally, Neo Ivy Capital Management increased its stake in Washington-based Expeditors International shares by 272.9% in the fourth quarter. Neo Ivy Capital Management now owns 2,946 shares of the transportation company valued at $396,000 after purchasing an additional 2,156 shares during the period. Hedge funds and other institutional investors hold 92.14% of the company’s shares.
About Washington Expeditors International
Expeditors International of Washington, Inc. provides logistics services in the Americas, North Asia, South Asia, Europe, Middle East, Africa and India. The Company offers air freight services, such as air freight consolidation and forwarding; ocean freight and marine services, including ocean freight consolidation, direct shipping and order management; customs brokerage, intracontinental land transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, supplier consolidation, fixed-term transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other Supply Chain.
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