Bank of America Has Lowered Expectations for Expeditors International of Washington (NASDAQ:EXPD) Stock Price

Expeditors International of Washington (NASDAQ:EXPD) had its target price lowered by research analysts at Bank of America from $129.00 to $120.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 8.81% from the company’s previous close.

EXPD has been the topic of a number of other reports. TD Cowen raised their target price on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. Finally, Barclays boosted their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Expeditors International of Washington has a consensus rating of “Hold” and an average price target of $117.11.

Expeditors International of Washington Stock Down 0.8 %

EXPD opened at $110.28 on Thursday. The company’s 50-day moving average price is $116.06 and its 200 day moving average price is $119.97. Expeditors International of Washington has a fifty-two week low of $108.36 and a fifty-two week high of $131.59. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, November 5th. The transportation company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.33 by $0.30. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.47 billion. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. The business’s revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. Research analysts anticipate that Expeditors International of Washington will post 5.47 earnings per share for the current year.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, Director Robert Paul Carlile sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $121.11, for a total value of $363,330.00. Following the completion of the sale, the director now directly owns 9,662 shares in the company, valued at $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.69% of the company’s stock.

Institutional Trading of Expeditors International of Washington

Hedge funds and other institutional investors have recently modified their holdings of the company. Hara Capital LLC acquired a new position in Expeditors International of Washington during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Expeditors International of Washington during the 3rd quarter valued at about $57,000. Maia Wealth LLC bought a new position in shares of Expeditors International of Washington during the 3rd quarter valued at about $59,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Expeditors International of Washington by 174.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 472 shares of the transportation company’s stock worth $62,000 after purchasing an additional 300 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Expeditors International of Washington by 315.6% in the 2nd quarter. Quarry LP now owns 561 shares of the transportation company’s stock worth $70,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Company 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.