Expeditors International of Washington, Inc. (NASDAQ:EXPD) Given Average Rating of “Reduce” by Analysts

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) have received a consensus recommendation of “Reduce” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $108.63.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 9th. BNP Paribas cut shares of Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 target price on the stock. in a report on Thursday, January 11th. Bank of America started coverage on Expeditors International of Washington in a report on Friday, March 15th. They set a “neutral” rating and a $126.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Expeditors International of Washington from $114.00 to $117.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th.

Insiders Place Their Bets

In other news, VP Jeffrey F. Dickerman sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $122.63, for a total value of $245,260.00. Following the transaction, the vice president now owns 5,728 shares of the company’s stock, valued at $702,424.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Expeditors International of Washington

A number of institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its position in Expeditors International of Washington by 580.8% during the fourth quarter. First Trust Advisors LP now owns 1,584,361 shares of the transportation company’s stock worth $201,531,000 after acquiring an additional 1,351,630 shares during the period. Norges Bank acquired a new position in Expeditors International of Washington in the fourth quarter valued at about $133,106,000. Renaissance Technologies LLC lifted its position in Expeditors International of Washington by 1,025.5% during the first quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock worth $102,192,000 after purchasing an additional 902,600 shares during the period. Select Equity Group L.P. grew its stake in Expeditors International of Washington by 388.0% during the fourth quarter. Select Equity Group L.P. now owns 670,172 shares of the transportation company’s stock worth $69,644,000 after buying an additional 532,835 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Expeditors International of Washington by 16.2% during the first quarter. Bank of America Corp DE now owns 3,500,552 shares of the transportation company’s stock worth $385,481,000 after buying an additional 488,561 shares in the last quarter. Institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $114.79 on Friday. Expeditors International of Washington has a 52-week low of $106.43 and a 52-week high of $131.17. The company has a market cap of $16.29 billion, a P/E ratio of 22.96, a P/E/G ratio of 8.54 and a beta of 0.99. The stock’s 50-day simple moving average is $120.04 and its 200 day simple moving average is $120.55.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, February 20th. The transportation company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.12). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.32 billion. Expeditors International of Washington had a return on equity of 28.43% and a net margin of 8.10%. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. As a group, equities analysts predict that Expeditors International of Washington will post 4.75 earnings per share for the current fiscal year.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.