Expeditors International of Washington (NASDAQ:EXPD) Issues Quarterly Earnings Results

Expeditors International of Washington (NASDAQ:EXPD) released its earnings results on Tuesday. The transportation company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.34, Briefing.com reports. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD traded up $1.23 during midday trading on Tuesday, hitting $171.82. 391,194 shares of the company’s stock were exchanged, compared to its average volume of 1,353,225. The firm’s fifty day simple moving average is $166.90 and its 200-day simple moving average is $156.51. The company has a market cap of $22.47 billion, a PE ratio of 30.11, a P/E/G ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a twelve month low of $112.94 and a twelve month high of $183.52.

Analysts Set New Price Targets

Several research firms recently commented on EXPD. Stifel Nicolaus raised their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Stephens raised shares of Expeditors International of Washington to a “strong-buy” rating in a research note on Wednesday, July 8th. Citizens Jmp assumed coverage on shares of Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Susquehanna boosted their price objective on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Truist Financial increased their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $153.78.

Hedge Funds Weigh In On Expeditors International of Washington

Large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company’s stock worth $945,004,000 after buying an additional 377,703 shares during the last quarter. Wellington Management Group LLP grew its stake 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 purchasing an additional 749,993 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Expeditors International of Washington by 733.9% in the 3rd 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 valued at $231,432,000 after purchasing an additional 1,661,457 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Expeditors International of Washington by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,484,798 shares of the transportation company’s stock valued at $221,262,000 after purchasing an additional 33,435 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new stake in shares of Expeditors International of Washington during the fourth quarter worth approximately $201,164,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

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.