Summit Financial LLC Takes $247,000 Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Summit Financial LLC acquired a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,939 shares of the transportation company’s stock, valued at approximately $247,000.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in Expeditors International of Washington during the fourth quarter worth approximately $35,000. BKM Wealth Management LLC purchased a new stake in shares of Expeditors International of Washington in the fourth quarter worth approximately $37,000. Planned Solutions Inc. purchased a new position in Expeditors International of Washington during the 4th quarter worth $37,000. Fortitude Family Office LLC purchased a new position in Expeditors International of Washington during the fourth quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Expeditors International of Washington in the fourth quarter worth $49,000. 94.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America initiated coverage on Expeditors International of Washington in a research report on Friday, March 15th. They issued a “neutral” rating and a $126.00 target price for the company. BNP Paribas downgraded Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research report on Thursday, January 11th. Stifel Nicolaus boosted their price objective on shares of Expeditors International of Washington from $114.00 to $117.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. increased their target price on Expeditors International of Washington from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.57.

Insider Transactions at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $122.63, for a total value of $245,260.00. Following the transaction, the vice president now owns 5,728 shares in the company, valued at approximately $702,424.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Expeditors International of Washington Trading Up 0.9 %

Shares of NASDAQ EXPD opened at $114.98 on Friday. 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 fifty day simple moving average of $117.91 and a two-hundred day simple moving average of $120.35. The firm has a market capitalization of $16.31 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 8.41 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, February 20th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.12). Expeditors International of Washington had a return on equity of 28.43% and a net margin of 8.10%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was down 33.8% compared to the same quarter last year. On average, sell-side analysts predict that Expeditors International of Washington, Inc. will post 4.75 earnings per share for the current year.

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.