Expeditors International of Washington (NASDAQ:EXPD) Trading Down 5.3% – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD) shares dropped 5.3% during trading on Monday . The company traded as low as $138.23 and last traded at $139.4790. Approximately 245,932 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,408,125 shares. The stock had previously closed at $147.23.

Analysts Set New Price Targets

EXPD has been the topic of a number of research reports. Susquehanna dropped their price objective on Expeditors International of Washington from $160.00 to $142.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Bank of America raised Expeditors International of Washington from a “neutral” rating to a “buy” rating in a research note on Friday, January 9th. Truist Financial dropped their price objective on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, February 25th. Barclays boosted their price objective on Expeditors International of Washington from $110.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $134.30.

Expeditors International of Washington Trading Down 5.2%

The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 5.00 and a beta of 1.04. The stock has a fifty day moving average of $145.31 and a 200-day moving average of $146.24.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, February 24th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. As a group, equities research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds have recently modified their holdings of EXPD. Envestnet Asset Management Inc. grew its holdings in shares of Expeditors International of Washington by 6.7% during the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock valued at $121,817,000 after buying an additional 62,500 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Expeditors International of Washington by 14.0% during the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after buying an additional 69,290 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Expeditors International of Washington during the third quarter valued at $1,041,000. Exchange Traded Concepts LLC grew its holdings in shares of Expeditors International of Washington by 40.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company’s stock valued at $10,807,000 after buying an additional 20,755 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Expeditors International of Washington during the third quarter valued at $464,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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.