JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Expeditors International of Washington (NASDAQ:EXPD) Stock

Expeditors International of Washington (NASDAQ:EXPD) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $200.00 to $214.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 11.60% from the stock’s previous close.

A number of other research firms have also recently weighed in on EXPD. BNP Paribas Exane began coverage on Expeditors International of Washington in a report on Wednesday, September 30th. They issued a “neutral” rating and a $180.00 price target for the company. Citizens Jmp initiated coverage on shares of Expeditors International of Washington in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Robert W. Baird upped their target price on shares of 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. Bank of America raised their price target on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Stephens raised shares of Expeditors International of Washington to a “strong-buy” rating in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and three have assigned a Sell 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 $175.27.

Expeditors International of Washington Price Performance

Shares of EXPD opened at $191.76 on Monday. Expeditors International of Washington has a 12 month low of $112.94 and a 12 month high of $195.32. The stock’s 50-day moving average is $186.03 and its two-hundred day moving average is $167.74. The stock has a market cap of $24.93 billion, a PE ratio of 33.52, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The company’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, research analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On Expeditors International of Washington

A number of institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Expeditors International of Washington by 6.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,946 shares of the transportation company’s stock valued at $480,000 after buying an additional 179 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Expeditors International of Washington by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,107,979 shares of the transportation company’s stock worth $180,578,000 after buying an additional 3,909 shares in the last quarter. Andra AP fonden increased its stake in shares of Expeditors International of Washington by 151.0% in the second quarter. Andra AP fonden now owns 95,421 shares of the transportation company’s stock worth $15,552,000 after buying an additional 57,400 shares during the last quarter. State Street Corp increased its stake in shares of Expeditors International of Washington by 1.5% in 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 during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in Expeditors International of Washington in the second quarter valued at $163,000. 94.02% of the stock is 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.