Expeditors International of Washington (NASDAQ:EXPD) Rating Increased to Strong-Buy at Zacks Research

Expeditors International of Washington (NASDAQ:EXPD) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on EXPD. Truist Financial lifted their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Bank of America upgraded shares of Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $142.00 price target on the stock in a report on Wednesday, November 5th. TD Cowen boosted their target price on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on Expeditors International of Washington from $116.00 to $134.00 and gave the stock an “underweight” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on Expeditors International of Washington from $114.00 to $130.00 and gave the company a “hold” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $128.78.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $140.80 on Tuesday. The firm has a market capitalization of $18.87 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 5.00 and a beta of 1.09. The business has a 50 day simple moving average of $123.15 and a 200-day simple moving average of $118.04. Expeditors International of Washington has a 1 year low of $100.47 and a 1 year high of $142.09.

Insider Activity

In other news, Director Mark A. Emmert sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $135.25, for a total value of $730,350.00. Following the completion of the sale, the director owned 6,468 shares of the company’s stock, valued at approximately $874,797. This represents a 45.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeffrey F. Dickerman sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $134.17, for a total transaction of $201,255.00. Following the transaction, the vice president owned 6,151 shares in the company, valued at approximately $825,279.67. This represents a 19.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Expeditors International of Washington

Institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky grew its position in Expeditors International of Washington by 3.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,798 shares of the transportation company’s stock valued at $1,299,000 after buying an additional 374 shares during the period. Avantax Advisory Services Inc. raised its holdings in Expeditors International of Washington by 6.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,426 shares of the transportation company’s stock worth $292,000 after purchasing an additional 149 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Expeditors International of Washington during the first quarter worth approximately $200,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Expeditors International of Washington by 3.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,973 shares of the transportation company’s stock valued at $1,939,000 after purchasing an additional 516 shares during the period. Finally, Clifford Swan Investment Counsel LLC grew its stake in Expeditors International of Washington by 18.0% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 71,213 shares of the transportation company’s stock valued at $8,136,000 after acquiring an additional 10,858 shares during the period. Institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.