Expeditors International of Washington (NASDAQ:EXPD) Downgraded by BidaskClub to “Strong Sell”

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Expeditors International of Washington (NASDAQ:EXPD) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other equities analysts have also recently commented on EXPD. UBS Group set a $67.00 price target on Expeditors International of Washington and gave the stock a “sell” rating in a report on Wednesday, August 7th. Barclays cut Expeditors International of Washington from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $78.00 to $72.00 in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, September 10th. Stifel Nicolaus lowered their target price on Expeditors International of Washington from $73.00 to $72.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Robert W. Baird increased their target price on shares of Expeditors International of Washington from $77.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $73.56.

Shares of EXPD opened at $73.14 on Tuesday. Expeditors International of Washington has a one year low of $62.90 and a one year high of $81.15. The company has a market cap of $12.46 billion, a P/E ratio of 21.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a 50 day simple moving average of $75.19 and a two-hundred day simple moving average of $73.66.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, November 5th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Expeditors International of Washington had a return on equity of 30.20% and a net margin of 7.56%. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts expect that Expeditors International of Washington will post 3.51 earnings per share for the current fiscal year.

In other Expeditors International of Washington news, insider Philip M. Coughlin sold 185,686 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.74, for a total transaction of $14,249,543.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bradley S. Powell sold 17,364 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $76.15, for a total transaction of $1,322,268.60. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of EXPD. Point72 Hong Kong Ltd lifted its stake in shares of Expeditors International of Washington by 4.0% in the second quarter. Point72 Hong Kong Ltd now owns 3,773 shares of the transportation company’s stock worth $286,000 after acquiring an additional 146 shares during the period. Wetherby Asset Management Inc. raised its holdings in Expeditors International of Washington by 1.9% during the 3rd quarter. Wetherby Asset Management Inc. now owns 7,709 shares of the transportation company’s stock worth $573,000 after purchasing an additional 147 shares during the last quarter. Glen Harbor Capital Management LLC raised its holdings in Expeditors International of Washington by 1.7% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,200 shares of the transportation company’s stock worth $774,000 after purchasing an additional 170 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Expeditors International of Washington by 67.3% in the 3rd quarter. Whittier Trust Co. now owns 460 shares of the transportation company’s stock worth $34,000 after purchasing an additional 185 shares during the period. Finally, Cornerstone Advisors Inc. lifted its position in shares of Expeditors International of Washington by 115.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 345 shares of the transportation company’s stock worth $26,000 after purchasing an additional 185 shares during the period. Institutional investors own 91.39% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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, and other logistics solutions.

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Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

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