Short Interest in Expeditors International of Washington (NASDAQ:EXPD) Declines By 8.9%

Share on StockTwits

Expeditors International of Washington (NASDAQ:EXPD) saw a large decrease in short interest during the month of November. As of November 29th, there was short interest totalling 3,790,000 shares, a decrease of 8.9% from the November 14th total of 4,160,000 shares. Based on an average daily volume of 985,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.2% of the company’s stock are short sold.

Several analysts recently commented on the stock. BidaskClub downgraded shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Zacks Investment Research downgraded shares of Expeditors International of Washington from a “hold” rating to a “sell” rating and set a $78.00 price objective on the stock. in a research report on Tuesday, December 3rd. Robert W. Baird increased their price objective on shares of Expeditors International of Washington from $77.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Cowen reissued a “hold” rating and set a $78.00 price objective on shares of Expeditors International of Washington in a research report on Tuesday, November 5th. Finally, Barclays downgraded shares of Expeditors International of Washington from an “overweight” rating to an “equal weight” rating and cut their price objective 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. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.56.

In related news, insider Philip M. Coughlin sold 185,686 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.74, for a total transaction of $14,249,543.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Bradley S. Powell sold 17,364 shares of the stock in a transaction dated 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. Corporate insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eads & Heald Wealth Management lifted its stake in shares of Expeditors International of Washington by 12.8% in the 3rd quarter. Eads & Heald Wealth Management now owns 27,995 shares of the transportation company’s stock worth $2,080,000 after purchasing an additional 3,182 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Expeditors International of Washington by 5.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,076,295 shares of the transportation company’s stock worth $81,648,000 after acquiring an additional 53,087 shares during the period. Neo Ivy Capital Management raised its stake in Expeditors International of Washington by 113.1% during the 3rd quarter. Neo Ivy Capital Management now owns 7,013 shares of the transportation company’s stock worth $499,000 after acquiring an additional 3,722 shares during the period. Coastal Investment Advisors Inc. raised its stake in Expeditors International of Washington by 17.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,394 shares of the transportation company’s stock worth $105,000 after acquiring an additional 209 shares during the period. Finally, Pinnacle Financial Partners Inc. raised its stake in Expeditors International of Washington by 17.8% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 3,721 shares of the transportation company’s stock worth $282,000 after acquiring an additional 561 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ EXPD traded down $0.17 during trading on Friday, reaching $76.15. 1,149,170 shares of the company traded hands, compared to its average volume of 1,206,661. The firm has a 50 day simple moving average of $75.17 and a 200-day simple moving average of $73.70. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $13.00 billion, a PE ratio of 21.88 and a beta of 0.93. Expeditors International of Washington has a 52-week low of $62.90 and a 52-week high of $81.15.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, November 5th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.15 billion. Expeditors International of Washington had a net margin of 7.56% and a return on equity of 30.20%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. As a group, research analysts predict that Expeditors International of Washington will post 3.54 EPS for the current year.

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Expeditors International of Washington’s previous Semi-Annual dividend of $0.45. Expeditors International of Washington’s dividend payout ratio (DPR) is presently 28.74%.

Expeditors International of Washington Company Profile

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.

See Also: Does the discount rate affect the economy?

Receive News & Ratings for Expeditors International of Washington Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.