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

Expeditors International of Washington (NASDAQ:EXPD) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports.

A number of other brokerages have also weighed in on EXPD. Morgan Stanley raised their price objective on Expeditors International of Washington from $90.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. increased their price target on Expeditors International of Washington from $116.00 to $134.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. UBS Group raised Expeditors International of Washington from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $138.00 to $166.00 in a research note on Monday, November 17th. Truist Financial upped their price objective on Expeditors International of Washington from $120.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Finally, TD Cowen raised their target price on shares of Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of “Hold” and an average target price of $128.80.

Expeditors International of Washington Stock Performance

EXPD opened at $158.89 on Friday. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 5.00 and a beta of 1.14. The company has a fifty day moving average of $146.97 and a 200 day moving average of $128.67. Expeditors International of Washington has a fifty-two week low of $100.47 and a fifty-two week high of $160.19.

Insiders Place Their Bets

In other Expeditors International of Washington news, Director Mark A. Emmert sold 5,400 shares of Expeditors International of Washington stock in a transaction on Friday, November 7th. The shares were sold at an average price of $135.25, for a total transaction of $730,350.00. Following the completion of the transaction, the director directly owned 6,468 shares of the company’s stock, valued at $874,797. The trade was a 45.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey F. Dickerman sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $134.17, for a total transaction of $201,255.00. Following 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 position. The disclosure for this sale is available in the SEC filing. 0.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Expeditors International of Washington

Several hedge funds have recently added to or reduced their stakes in EXPD. RIA Advisory Group LLC boosted its position in shares of Expeditors International of Washington by 2.7% during the third quarter. RIA Advisory Group LLC now owns 2,970 shares of the transportation company’s stock valued at $364,000 after buying an additional 78 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Expeditors International of Washington by 4.2% during the 3rd quarter. HighPoint Advisor Group LLC now owns 2,085 shares of the transportation company’s stock worth $256,000 after acquiring an additional 84 shares during the last quarter. Atria Investments Inc boosted its holdings in Expeditors International of Washington by 0.3% during the 2nd quarter. Atria Investments Inc now owns 33,522 shares of the transportation company’s stock valued at $3,830,000 after acquiring an additional 91 shares during the period. Forum Financial Management LP grew its position in Expeditors International of Washington by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 2,714 shares of the transportation company’s stock valued at $310,000 after acquiring an additional 101 shares during the last quarter. Finally, Davidson Trust Co. grew its position in Expeditors International of Washington by 3.2% in the 3rd quarter. Davidson Trust Co. now owns 3,688 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 113 shares during the last quarter. 94.02% of the stock is currently owned by 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.