Expeditors International of Washington (NASDAQ:EXPD) Stock Price Down 7.2% – Time to Sell?

Expeditors International of Washington, Inc. (NASDAQ:EXPD) fell 7.2% during trading on Thursday . The stock traded as low as $149.00 and last traded at $150.1920. 744,356 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,380,504 shares. The stock had previously closed at $161.89.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EXPD. TD Cowen increased 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. JPMorgan Chase & Co. reduced their price objective on Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Bank of America upgraded shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a research report on Friday, January 9th. Zacks Research downgraded Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Truist Financial raised their price target on shares of Expeditors International of Washington from $130.00 to $160.00 and gave the stock a “hold” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $134.10.

Expeditors International of Washington Stock Performance

The business’s fifty day simple moving average is $156.22 and its 200 day simple moving average is $136.35. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 5.00 and a beta of 1.13.

Institutional Investors Weigh In On Expeditors International of Washington

A number of institutional investors have recently modified their holdings of EXPD. State Street Corp increased its holdings in shares of Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company’s stock valued at $945,004,000 after purchasing an additional 377,703 shares during the period. First Eagle Investment Management LLC raised its stake in Expeditors International of Washington by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company’s stock valued at $940,597,000 after purchasing an additional 32,063 shares during the period. Loomis Sayles & Co. L P boosted 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 acquiring an additional 83,366 shares during the period. First Trust Advisors LP increased its stake in Expeditors International of Washington by 19.3% in the 2nd 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 period. Finally, Marshfield Associates boosted its position in Expeditors International of Washington by 4.6% during the third quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company’s stock valued at $238,161,000 after purchasing an additional 86,182 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

About Expeditors International of Washington

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.