Expeditors International of Washington (NASDAQ:EXPD) Reaches New 52-Week High – Still a Buy?

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $188.50 and last traded at $189.2460, with a volume of 54300 shares traded. The stock had previously closed at $187.05.

Analyst Ratings Changes

Several equities analysts recently commented on EXPD shares. Zacks Research raised shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Bank of America boosted their target price on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Stifel Nicolaus increased their price target on Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Barclays increased their price target on Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. Finally, TD Cowen boosted their price objective on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a “sell” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $168.78.

Expeditors International of Washington Trading Up 0.5%

The business has a 50-day simple moving average of $170.31 and a 200 day simple moving average of $157.60. The stock has a market cap of $24.43 billion, a P/E ratio of 32.83, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same period in the previous year, the business earned $1.34 earnings per share. The company’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXPD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Expeditors International of Washington by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company’s stock worth $1,944,000 after purchasing an additional 623 shares during the period. Jones Financial Companies Lllp increased its position in shares of Expeditors International of Washington by 75.4% during the first quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company’s stock worth $279,000 after buying an additional 999 shares during the period. Woodline Partners LP raised its stake in Expeditors International of Washington by 40.7% during the first quarter. Woodline Partners LP now owns 11,826 shares of the transportation company’s stock worth $1,422,000 after buying an additional 3,420 shares during the last quarter. Focus Partners Wealth raised its stake in Expeditors International of Washington by 33.9% during the first quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company’s stock worth $628,000 after buying an additional 1,324 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Expeditors International of Washington by 29.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company’s stock valued at $127,000 after buying an additional 255 shares during the period. Institutional investors own 94.02% of the company’s stock.

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.