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

Expeditors International of Washington, Inc. (NASDAQ:EXPD) reached a new 52-week high on Monday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $166.00 price target on the stock, up from their previous price target of $138.00. Expeditors International of Washington traded as high as $142.42 and last traded at $142.1870, with a volume of 685449 shares. The stock had previously closed at $138.42.

Other research analysts also recently issued reports about the stock. Barclays upped their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. raised their target price on Expeditors International of Washington from $116.00 to $134.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. Bank of America upgraded Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $142.00 price target on the stock in a research note on Wednesday, November 5th. Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 11th. Finally, Truist Financial upped their target price on Expeditors International of Washington from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $131.89.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $134.17, for a total transaction of $201,255.00. Following the transaction, the vice president directly owned 6,151 shares in the company, valued at $825,279.67. This trade represents a 19.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Emmert sold 5,400 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $135.25, for a total transaction of $730,350.00. Following the sale, the director owned 6,468 shares of the company’s stock, valued at approximately $874,797. The trade was a 45.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds and other institutional investors have recently bought and sold shares of EXPD. CWM LLC lifted its holdings in shares of Expeditors International of Washington by 17.8% in the 1st quarter. CWM LLC now owns 11,355 shares of the transportation company’s stock worth $1,365,000 after purchasing an additional 1,713 shares during the last quarter. Sigma Planning Corp lifted its stake in Expeditors International of Washington by 10.2% in the first quarter. Sigma Planning Corp now owns 2,060 shares of the transportation company’s stock valued at $248,000 after buying an additional 191 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Expeditors International of Washington during the first quarter valued at $237,000. Victory Capital Management Inc. grew its position in shares of Expeditors International of Washington by 2.0% during the first quarter. Victory Capital Management Inc. now owns 312,180 shares of the transportation company’s stock worth $37,540,000 after acquiring an additional 6,111 shares during the last quarter. Finally, Forum Financial Management LP grew its position in shares of Expeditors International of Washington by 8.0% during the first quarter. Forum Financial Management LP now owns 2,613 shares of the transportation company’s stock worth $314,000 after acquiring an additional 194 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Performance

The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 5.00 and a beta of 1.09. The stock’s fifty day moving average is $123.83 and its two-hundred day moving average is $118.52.

Expeditors International of Washington Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.77 per share. This represents a dividend yield of 113.0%. The ex-dividend date of this dividend is Monday, December 1st. Expeditors International of Washington’s payout ratio is 25.12%.

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.