Brokerages Set Expeditors International of Washington (EXPD) Target Price at $62.25

Shares of Expeditors International of Washington (NASDAQ:EXPD) have earned an average rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $62.25.

Several analysts have weighed in on EXPD shares. Zacks Investment Research raised Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Friday, January 19th. BidaskClub cut Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Morgan Stanley reissued an “equal weight” rating and set a $55.00 price objective (up from $51.00) on shares of Expeditors International of Washington in a report on Monday, February 26th. Credit Suisse Group boosted their price objective on Expeditors International of Washington from $56.00 to $63.00 and gave the stock an “underperform” rating in a report on Tuesday, January 16th. Finally, UBS set a $60.00 price objective on Expeditors International of Washington and gave the stock a “sell” rating in a report on Wednesday, February 21st.

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NASDAQ EXPD traded up $0.68 on Wednesday, hitting $62.27. 294,478 shares of the company were exchanged, compared to its average volume of 1,257,580. The company has a market cap of $10,787.41, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.69. Expeditors International of Washington has a 1-year low of $51.96 and a 1-year high of $67.63.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, February 20th. The transportation company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.07. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.79 billion. Expeditors International of Washington had a net margin of 7.07% and a return on equity of 22.79%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. research analysts predict that Expeditors International of Washington will post 2.88 earnings per share for the current year.

In other news, VP Christopher J. Mcclincy sold 2,781 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $64.81, for a total value of $180,236.61. Following the completion of the sale, the vice president now directly owns 16,500 shares of the company’s stock, valued at approximately $1,069,365. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Philip M. Coughlin sold 12,103 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $65.01, for a total value of $786,816.03. Following the completion of the sale, the insider now directly owns 16,153 shares of the company’s stock, valued at $1,050,106.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,457 shares of company stock valued at $1,784,235. 0.99% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Confluence Investment Management LLC raised its holdings in Expeditors International of Washington by 3.0% during the 4th quarter. Confluence Investment Management LLC now owns 224,565 shares of the transportation company’s stock worth $14,527,000 after purchasing an additional 6,534 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Expeditors International of Washington by 22.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 92,782 shares of the transportation company’s stock valued at $5,554,000 after buying an additional 16,910 shares during the period. Creative Planning boosted its position in Expeditors International of Washington by 18.9% in the 4th quarter. Creative Planning now owns 8,216 shares of the transportation company’s stock valued at $531,000 after buying an additional 1,304 shares during the period. California Public Employees Retirement System boosted its position in Expeditors International of Washington by 5.2% in the 3rd quarter. California Public Employees Retirement System now owns 508,652 shares of the transportation company’s stock valued at $30,448,000 after buying an additional 25,202 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Expeditors International of Washington by 144.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 497,083 shares of the transportation company’s stock valued at $29,642,000 after buying an additional 293,338 shares during the period. 92.44% of the stock is owned by institutional investors.

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About Expeditors International of Washington

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.

Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

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