Expeditors International of Washington (NASDAQ:EXPD) Sets New 1-Year High on Analyst Upgrade

Expeditors International of Washington, Inc. (NASDAQ:EXPD) reached a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $175.00 to $191.00. UBS Group currently has a buy rating on the stock. Expeditors International of Washington traded as high as $168.70 and last traded at $168.68, with a volume of 386141 shares traded. The stock had previously closed at $164.36.

EXPD has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the stock an “underweight” rating in a report on Thursday, June 25th. Susquehanna raised their price objective on Expeditors International of Washington from $142.00 to $156.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Stephens upgraded shares of Expeditors International of Washington to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $142.22.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds have recently modified their holdings of EXPD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock worth $231,432,000 after purchasing an additional 1,661,457 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Expeditors International of Washington in the fourth quarter valued at approximately $201,164,000. Norges Bank acquired a new position in shares of Expeditors International of Washington during the fourth quarter worth about $180,719,000. Balyasny Asset Management L.P. acquired a new position in Expeditors International of Washington during the 3rd quarter worth approximately $113,194,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Expeditors International of Washington by 64.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock valued at $235,486,000 after buying an additional 749,993 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

The company has a 50-day simple moving average of $159.65 and a 200-day simple moving average of $153.90. The stock has a market cap of $22.08 billion, a PE ratio of 29.48, a PEG ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.47 EPS. On average, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.81 per share. The ex-dividend date was Monday, June 1st. This represents a yield of 101.0%. Expeditors International of Washington’s payout ratio is presently 26.21%.

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.