Expeditors International of Washington (NASDAQ:EXPD) Raised to “Neutral” at Bank of America

Expeditors International of Washington (NASDAQ:EXPD) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $142.00 price target on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 5.66% from the stock’s current price.

Several other equities research analysts have also recently weighed in on EXPD. UBS Group boosted their price target on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Stifel Nicolaus lowered their price objective on Expeditors International of Washington from $118.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, October 10th. TD Cowen boosted their target price on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a research report on Wednesday. Truist Financial lifted their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Expeditors International of Washington has a consensus rating of “Reduce” and a consensus price target of $128.78.

Expeditors International of Washington Stock Down 2.6%

Shares of Expeditors International of Washington stock opened at $134.39 on Wednesday. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 5.00 and a beta of 1.09. The stock’s 50-day simple moving average is $121.63 and its 200-day simple moving average is $117.09. Expeditors International of Washington has a 52 week low of $100.47 and a 52 week high of $140.72.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $134.17, for a total value of $201,255.00. Following the completion of the sale, the vice president owned 6,151 shares of the company’s stock, valued at $825,279.67. This trade represents a 19.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Expeditors International of Washington

Several institutional investors have recently added to or reduced their stakes in EXPD. First Eagle Investment Management LLC increased its holdings in shares of Expeditors International of Washington by 17.1% during the second quarter. First Eagle Investment Management LLC now owns 6,279,825 shares of the transportation company’s stock valued at $717,470,000 after acquiring an additional 918,108 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Expeditors International of Washington by 1.5% during the 2nd quarter. Loomis Sayles & Co. L P now owns 5,744,971 shares of the transportation company’s stock worth $656,363,000 after purchasing an additional 83,366 shares during the last quarter. Boston Partners increased its stake in Expeditors International of Washington by 13.1% during the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company’s stock valued at $516,385,000 after purchasing an additional 498,212 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Expeditors International of Washington by 23.4% in the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company’s stock worth $365,548,000 after buying an additional 576,468 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Expeditors International of Washington by 19.3% during the second quarter. First Trust Advisors LP now owns 2,077,347 shares of the transportation company’s stock valued at $237,337,000 after buying an additional 335,578 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

About Expeditors International of Washington

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.