Expeditors International of Washington (NASDAQ:EXPD) Reaches New 12-Month High on Analyst Upgrade

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $214.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Expeditors International of Washington traded as high as $195.32 and last traded at $194.9390, with a volume of 931467 shares trading hands. The stock had previously closed at $192.47.

A number of other research analysts also recently issued reports on the company. Barclays lifted their price target on Expeditors International of Washington from $160.00 to $165.00 and gave the company an “underweight” rating in a report on Tuesday, September 29th. Robert W. Baird lifted their price objective on shares of Expeditors International of Washington from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial increased their price objective on Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Citizens Jmp initiated coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Finally, BNP Paribas Exane initiated coverage on Expeditors International of Washington in a research note on Wednesday, September 30th. They set a “neutral” rating and a $180.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $175.27.

Institutional Investors Weigh In On Expeditors International of Washington

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Expeditors International of Washington in the 2nd quarter worth about $2,193,093,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Expeditors International of Washington in the second quarter valued at approximately $169,665,000. Legal & General Group Plc purchased a new stake in shares of Expeditors International of Washington in the second quarter valued at approximately $125,395,000. Bank of New York Mellon Corp acquired a new position in shares of Expeditors International of Washington during the 2nd quarter worth approximately $108,099,000. Finally, Deutsche Bank AG acquired a new position in shares of Expeditors International of Washington during the 2nd quarter worth approximately $102,595,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Trading Up 1.1%

The business has a 50-day moving average price of $185.16 and a 200-day moving average price of $167.05. The stock has a market cap of $25.29 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, topping 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%. Expeditors International of Washington’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.