Expeditors International of Washington (NASDAQ:EXPD) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Expeditors International of Washington (NASDAQ:EXPD) from a strong-buy rating to a hold rating in a report published on Monday,Zacks reports.

Several other research firms have also weighed in on EXPD. Stifel Nicolaus upped their price target on Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Bank of America raised their price objective on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Robert W. Baird lifted their target price on Expeditors International of Washington from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 1st. Truist Financial upped their target price on Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Finally, BNP Paribas Exane started coverage on shares of Expeditors International of Washington in a research report on Wednesday, September 30th. They issued a “neutral” rating and a $180.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Expeditors International of Washington currently has an average rating of “Hold” and a consensus target price of $175.27.

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock opened at $190.74 on Monday. The company has a 50 day moving average price of $186.43 and a 200 day moving average price of $168.05. Expeditors International of Washington has a 52 week low of $112.94 and a 52 week high of $195.32. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.34. 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 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 EPS. Equities analysts forecast that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Expeditors International of Washington

Several institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems raised its position in shares of Expeditors International of Washington by 97.2% during the first quarter. Kentucky Retirement Systems now owns 16,973 shares of the transportation company’s stock valued at $2,431,000 after buying an additional 8,367 shares during the last quarter. State Street Corp grew its position in Expeditors International of Washington by 1.5% during the second quarter. State Street Corp now owns 7,335,241 shares of the transportation company’s stock worth $1,195,498,000 after buying an additional 109,798 shares in the last quarter. Deutsche Bank AG acquired a new stake in Expeditors International of Washington during the second quarter worth about $102,595,000. Midway Capital Research & Management bought a new position in Expeditors International of Washington during the fourth quarter valued at about $2,432,000. Finally, Allianz Asset Management GmbH increased its stake in Expeditors International of Washington by 44.5% during the second quarter. Allianz Asset Management GmbH now owns 612,352 shares of the transportation company’s stock valued at $99,801,000 after acquiring an additional 188,581 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.