JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Expeditors International of Washington (NASDAQ:EXPD) Stock

Expeditors International of Washington (NASDAQ:EXPD) had its target price increased by equities researchers at JPMorgan Chase & Co. from $116.00 to $134.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 0.29% from the company’s current price.

Several other analysts have also recently weighed in on EXPD. Barclays lifted their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, September 11th. TD Cowen increased their price objective on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a research report on Wednesday. UBS Group lifted 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 note on Wednesday, August 6th. Truist Financial increased their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Bank of America raised shares of Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $142.00 target price for the company in a research report on Wednesday. Eight research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $128.78.

Expeditors International of Washington Stock Performance

EXPD stock opened at $134.39 on Wednesday. The firm’s fifty day moving average is $121.63 and its 200 day 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. The firm has a market cap of $18.24 billion, a P/E ratio of 23.49, a P/E/G ratio of 5.00 and a beta of 1.09.

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 dated Wednesday, November 5th. The stock was sold at an average price of $134.17, for a total transaction of $201,255.00. Following the completion of the transaction, the vice president owned 6,151 shares in the company, valued at $825,279.67. This trade represents a 19.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in Expeditors International of Washington in the 1st quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC increased its position in Expeditors International of Washington by 82.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 268 shares of the transportation company’s stock worth $31,000 after purchasing an additional 121 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Expeditors International of Washington during the second quarter valued at $34,000. Ransom Advisory Ltd purchased a new stake in Expeditors International of Washington during the first quarter valued at $41,000. Finally, Twin Tree Management LP bought a new position in Expeditors International of Washington during the first quarter valued at $42,000. 94.02% of the stock is owned by institutional investors.

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.