Expeditors International of Washington (NASDAQ:EXPD) Stock Price Target Raised at Barclays

Expeditors International of Washington (NASDAQ:EXPD) had its price target lifted by Barclays from $165.00 to $175.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the transportation company’s stock.

EXPD has been the topic of a number of other reports. TD Cowen lifted their price target on Expeditors International of Washington from $148.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, August 5th. Truist Financial raised their price objective on Expeditors International of Washington from $175.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday. Zacks Research lowered Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. JPMorgan Chase & Co. lifted their target price on Expeditors International of Washington from $200.00 to $214.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Finally, Stifel Nicolaus boosted their target price on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $181.27.

Expeditors International of Washington Trading Down 3.5%

Shares of EXPD stock opened at $197.09 on Wednesday. The stock has a fifty day simple moving average of $192.46 and a two-hundred day simple moving average of $167.63. Expeditors International of Washington has a twelve month low of $129.59 and a twelve month high of $207.93. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, November 3rd. The transportation company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.43. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The company’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. Research analysts predict that Expeditors International of Washington will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.81 dividend. The ex-dividend date is Tuesday, December 1st. This represents a dividend yield of 79.0%. Expeditors International of Washington’s dividend payout ratio is presently 23.58%.

Institutional Investors Weigh In On Expeditors International of Washington

Several hedge funds have recently bought and sold shares of EXPD. Lido Advisors LLC raised its holdings in Expeditors International of Washington by 20.2% in the 3rd quarter. Lido Advisors LLC now owns 10,811 shares of the transportation company’s stock worth $1,996,000 after purchasing an additional 1,820 shares during the period. 71 West Capital Partners acquired a new stake in Expeditors International of Washington in the third quarter valued at approximately $209,000. Leuthold Group LLC grew its holdings in Expeditors International of Washington by 9.5% in the third quarter. Leuthold Group LLC now owns 34,866 shares of the transportation company’s stock valued at $6,438,000 after purchasing an additional 3,014 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Expeditors International of Washington by 15.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the transportation company’s stock valued at $1,473,000 after purchasing an additional 1,026 shares during the period. Finally, Brighton Jones LLC increased its position in shares of Expeditors International of Washington by 7.1% in the third quarter. Brighton Jones LLC now owns 1,574 shares of the transportation company’s stock valued at $291,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Key Headlines Impacting Expeditors International of Washington

Here are the key news stories impacting Expeditors International of Washington this week:

• Positive Sentiment: Strong Q3 results: EPS rose 62% year over year to $2.65, beating the roughly $2.22 consensus, while revenue increased 42% to $4.1 billion. Higher airfreight tonnage, recovering ocean volumes and customs activity supported results. Expeditors Q3 results
• Positive Sentiment: UBS raised its target: UBS lifted its price target to $245 from $220 and reiterated a Buy rating, signaling substantial upside in its view. UBS price target update
• Positive Sentiment: Dividend declared: Expeditors announced a semi-annual cash dividend of $0.81 per share, payable December 15 to shareholders of record December 1. Dividend announcement
• Neutral Sentiment: Other analyst updates were mixed: JPMorgan raised its target to $220 but kept a Neutral rating; Truist raised its target to $200 and maintained Hold. JPMorgan target update
• Negative Sentiment: Bearish view remains: Barclays raised its target to $175 from $165 but kept an Underweight rating; that target remains below the stock’s recent level. Investors may also be weighing valuation after the strong results. Barclays rating

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.