Front Street Capital Management Inc. Cuts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Front Street Capital Management Inc. decreased its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,527 shares of the transportation company’s stock after selling 3,355 shares during the period. Expeditors International of Washington makes up about 0.8% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Front Street Capital Management Inc.’s holdings in Expeditors International of Washington were worth $4,309,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Crewe Advisors LLC bought a new stake in Expeditors International of Washington in the first quarter valued at $25,000. Optiver Holding B.V. acquired a new stake in shares of Expeditors International of Washington in the 4th quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of Expeditors International of Washington in the 2nd quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Expeditors International of Washington during the second quarter worth approximately $35,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Expeditors International of Washington during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Stock Up 1.9 %

Shares of NASDAQ EXPD opened at $125.49 on Tuesday. The company’s fifty day simple moving average is $122.13 and its 200 day simple moving average is $120.52. Expeditors International of Washington, Inc. has a 12-month low of $107.03 and a 12-month high of $131.17. The firm has a market cap of $17.73 billion, a PE ratio of 26.59, a P/E/G ratio of 5.59 and a beta of 0.97.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.02). The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.28 billion. Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. On average, equities analysts predict that Expeditors International of Washington, Inc. will post 5.01 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. Bank of America lifted their price objective on Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Finally, Wolfe Research raised Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.00.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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, specialized cargo monitoring and tracking, and other supply chain solutions.