Expeditors International of Washington (NASDAQ:EXPD) Upgraded at Zacks Research

Zacks Research upgraded shares of Expeditors International of Washington (NASDAQ:EXPD) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

Several other research analysts have also recently weighed in on the company. Truist Financial lifted their price target on Expeditors International of Washington from $175.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays upped their price objective on Expeditors International of Washington from $165.00 to $175.00 and gave the stock an “underweight” rating in a research report on Wednesday. Citizens Jmp assumed coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Expeditors International of Washington from $214.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America increased their price target on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.27.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock traded down $4.46 during trading on Wednesday, hitting $184.41. 1,689,643 shares of the company’s stock were exchanged, compared to its average volume of 1,278,210. The business has a 50-day simple moving average of $192.30 and a 200-day simple moving average of $167.88. Expeditors International of Washington has a 52-week low of $129.59 and a 52-week high of $207.93. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 5.00 and a beta of 1.08.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.22 by $0.43. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The business’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same period last year, the business earned $1.64 EPS. On average, equities analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.81 per share. This represents a dividend yield of 79.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Expeditors International of Washington’s dividend payout ratio is presently 20.56%.

Institutional Investors Weigh In On Expeditors International of Washington

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in Expeditors International of Washington by 5.3% during the third quarter. Allworth Financial LP now owns 7,053 shares of the transportation company’s stock worth $1,302,000 after acquiring an additional 358 shares during the period. Altar Rock LLC purchased a new stake in shares of Expeditors International of Washington during the third quarter worth about $220,000. Fifth Third Bancorp increased its stake in shares of Expeditors International of Washington by 2.5% during the third quarter. Fifth Third Bancorp now owns 33,748 shares of the transportation company’s stock worth $6,231,000 after purchasing an additional 837 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Expeditors International of Washington by 18.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 8,306 shares of the transportation company’s stock worth $1,534,000 after purchasing an additional 1,274 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Expeditors International of Washington by 88.5% in the 3rd quarter. Ritholtz Wealth Management now owns 9,440 shares of the transportation company’s stock valued at $1,743,000 after buying an additional 4,431 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.