Saudi Central Bank Boosts Holdings in Expeditors International of Washington, Inc. $EXPD

Saudi Central Bank grew its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 88.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,309 shares of the transportation company’s stock after purchasing an additional 4,362 shares during the quarter. Saudi Central Bank’s holdings in Expeditors International of Washington were worth $1,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in shares of Expeditors International of Washington during the 4th quarter valued at about $28,000. DV Equities LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $28,000. Nalls Sherbakoff Group LLC purchased a new position in Expeditors International of Washington in the 4th quarter valued at $30,000. Hara Capital LLC purchased a new stake in shares of Expeditors International of Washington during the second quarter worth $33,000. Finally, Continuum Advisory LLC acquired a new position in Expeditors International of Washington during the second quarter worth about $33,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $186.05 on Wednesday. The firm has a market cap of $24.18 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. The company has a 50-day moving average of $179.43 and a two-hundred day moving average of $161.47. Expeditors International of Washington, Inc. has a 1-year low of $112.94 and a 1-year high of $192.28.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly 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 net margin of 7.64% and a return on equity of 36.16%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 EPS. Sell-side analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Analyst Ratings Changes

EXPD has been the topic of several recent research reports. Citizens Jmp initiated coverage on Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. UBS Group raised their target price on Expeditors International of Washington from $191.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Barclays boosted their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a research report on Wednesday, August 5th. TD Cowen upped their price objective on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an “underweight” rating to a “neutral” rating and set a $200.00 target price on the stock in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $168.78.

Expeditors International of Washington Company Profile

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.