Expeditors International of Washington (NASDAQ:EXPD) Reaches New 52-Week Low – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $107.24 and last traded at $109.31, with a volume of 1200786 shares trading hands. The stock had previously closed at $121.89.

Wall Street Analyst Weigh In

EXPD has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Expeditors International of Washington from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. UBS Group dropped their price target on shares of Expeditors International of Washington from $130.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Expeditors International of Washington from $114.00 to $108.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Truist Financial assumed coverage on Expeditors International of Washington in a research report on Thursday, March 13th. They set a “hold” rating and a $110.00 price target for the company. Finally, Bank of America decreased their target price on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.90.

Expeditors International of Washington Stock Down 9.2 %

The business has a 50-day moving average price of $116.37 and a 200-day moving average price of $117.84. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 5.00 and a beta of 1.00.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,250 shares of Expeditors International of Washington stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $117.54, for a total transaction of $146,925.00. Following the sale, the vice president now directly owns 7,296 shares of the company’s stock, valued at $857,571.84. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Institutional Trading of Expeditors International of Washington

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in Expeditors International of Washington by 18.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock worth $23,623,000 after acquiring an additional 30,785 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Expeditors International of Washington during the 3rd quarter worth about $4,363,000. Pensionfund Sabic acquired a new position in Expeditors International of Washington during the fourth quarter worth approximately $1,329,000. Drystone LLC bought a new stake in Expeditors International of Washington in the 4th quarter valued at $5,925,000. Finally, Allworth Financial LP boosted its position in Expeditors International of Washington by 22.9% during the fourth quarter. Allworth Financial LP now owns 6,518 shares of the transportation company’s stock worth $732,000 after purchasing an additional 1,216 shares during the period. Institutional investors own 94.02% of the company’s stock.

About Expeditors International of Washington

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.