Truist Financial Initiates Coverage on Expeditors International of Washington (NASDAQ:EXPD)

Analysts at Truist Financial began coverage on shares of Expeditors International of Washington (NASDAQ:EXPD) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “hold” rating and a $110.00 price target on the transportation company’s stock. Truist Financial’s price objective indicates a potential downside of 4.59% from the company’s previous close.

A number of other analysts have also recently issued reports on EXPD. Bank of America lowered their target price on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com cut Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Susquehanna upped their price target on Expeditors International of Washington from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. UBS Group reduced their price target on Expeditors International of Washington from $130.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price target on Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of “Hold” and an average target price of $115.90.

Expeditors International of Washington Stock Performance

NASDAQ EXPD opened at $115.29 on Thursday. The business has a 50 day simple moving average of $114.45 and a 200 day simple moving average of $118.22. Expeditors International of Washington has a 52-week low of $108.36 and a 52-week high of $131.59. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 5.00 and a beta of 1.00.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value of $146,925.00. Following the completion of the sale, the vice president now owns 7,296 shares of the company’s stock, valued at approximately $857,571.84. This represents a 14.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Expeditors International of Washington

Large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC lifted its holdings in Expeditors International of Washington by 32.0% during the 4th quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company’s stock valued at $450,881,000 after purchasing an additional 987,233 shares during the last quarter. Boston Partners lifted its holdings in Expeditors International of Washington by 29.7% during the 4th quarter. Boston Partners now owns 3,797,712 shares of the transportation company’s stock valued at $420,693,000 after purchasing an additional 869,637 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Expeditors International of Washington by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,392,307 shares of the transportation company’s stock valued at $374,771,000 after purchasing an additional 57,736 shares during the last quarter. First Trust Advisors LP lifted its holdings in Expeditors International of Washington by 33.8% during the 4th quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company’s stock valued at $302,936,000 after purchasing an additional 690,539 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Expeditors International of Washington by 10.6% during the 4th quarter. Invesco Ltd. now owns 2,463,431 shares of the transportation company’s stock valued at $272,874,000 after purchasing an additional 235,409 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

About Expeditors International of Washington

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.