Expeditors International of Washington (NASDAQ:EXPD) Reaches New 52-Week High on Analyst Upgrade

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s stock price reached a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $88.00 to $91.00. Morgan Stanley currently has an equal weight rating on the stock. Expeditors International of Washington traded as high as $121.60 and last traded at $121.60, with a volume of 35166 shares. The stock had previously closed at $119.61.

EXPD has been the subject of a number of other research reports. Cowen increased their price objective on shares of Expeditors International of Washington from $97.00 to $109.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 17th. Vertical Research assumed coverage on shares of Expeditors International of Washington in a research report on Friday, March 26th. They set a “buy” rating for the company. Wells Fargo & Company increased their price objective on shares of Expeditors International of Washington from $112.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. Susquehanna Bancshares increased their price objective on shares of Expeditors International of Washington from $87.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 5th. Finally, Susquehanna raised their price target on shares of Expeditors International of Washington from $87.00 to $116.00 and gave the company a “neutral” rating in a research report on Tuesday, May 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $106.00.

In other news, insider Richard H. Rostan sold 65,000 shares of the firm’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $113.42, for a total value of $7,372,300.00. Following the sale, the insider now directly owns 66,505 shares in the company, valued at approximately $7,542,997.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Mcclincy sold 4,038 shares of the firm’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $120.43, for a total transaction of $486,296.34. Following the completion of the sale, the vice president now owns 17,569 shares in the company, valued at $2,115,834.67. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Expeditors International of Washington by 4.1% during the 1st quarter. AQR Capital Management LLC now owns 1,473,814 shares of the transportation company’s stock worth $158,715,000 after acquiring an additional 58,025 shares in the last quarter. Royal Bank of Canada raised its stake in Expeditors International of Washington by 3.6% during the 1st quarter. Royal Bank of Canada now owns 963,092 shares of the transportation company’s stock worth $103,716,000 after acquiring an additional 33,418 shares in the last quarter. Samlyn Capital LLC raised its stake in Expeditors International of Washington by 389.7% during the 1st quarter. Samlyn Capital LLC now owns 11,130 shares of the transportation company’s stock worth $1,199,000 after acquiring an additional 8,857 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in Expeditors International of Washington during the 1st quarter worth $1,907,000. Finally, Main Street Financial Solutions LLC acquired a new stake in Expeditors International of Washington during the 1st quarter worth $215,000. Hedge funds and other institutional investors own 91.17% of the company’s stock.

The company’s 50 day moving average is $111.75 and its 200 day moving average is $98.05. The stock has a market capitalization of $20.38 billion, a price-to-earnings ratio of 32.35 and a beta of 0.75.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, May 4th. The transportation company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.63. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.67 billion. Expeditors International of Washington had a net margin of 7.06% and a return on equity of 28.55%. Expeditors International of Washington’s revenue for the quarter was up 76.5% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. On average, equities research analysts anticipate that Expeditors International of Washington, Inc. will post 3.98 EPS for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be paid a $0.58 dividend. The ex-dividend date is Friday, May 28th. This is a positive change from Expeditors International of Washington’s previous Semi-Annual dividend of $0.52. This represents a yield of 0.9%. Expeditors International of Washington’s payout ratio is currently 30.14%.

About Expeditors International of Washington (NASDAQ:EXPD)

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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.

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