Expeditors International of Washington (NASDAQ:EXPD) Short Interest Down 12.2% in August

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Expeditors International of Washington (NASDAQ:EXPD) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,655,300 shares, a drop of 12.2% from the July 31st total of 5,302,800 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.7% of the shares of the company are short sold.

Shares of EXPD traded up $1.01 during trading hours on Friday, reaching $76.22. 1,049,609 shares of the stock traded hands, compared to its average volume of 777,847. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.15. Expeditors International of Washington has a 52-week low of $62.90 and a 52-week high of $80.69. The company’s 50-day moving average price is $72.35 and its two-hundred day moving average price is $74.57. The company has a market cap of $12.95 billion, a P/E ratio of 21.90 and a beta of 0.96.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, August 6th. The transportation company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. Expeditors International of Washington had a net margin of 7.57% and a return on equity of 31.26%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company earned $0.79 EPS. Expeditors International of Washington’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts forecast that Expeditors International of Washington will post 3.53 EPS for the current year.

In other news, insider Eugene K. Alger sold 36,000 shares of Expeditors International of Washington stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $71.05, for a total transaction of $2,557,800.00. Following the transaction, the insider now owns 45,787 shares in the company, valued at approximately $3,253,166.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sidney E. Harris sold 1,860 shares of Expeditors International of Washington stock in a transaction on Friday, August 30th. The stock was sold at an average price of $134.50, for a total transaction of $250,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,860 shares of company stock worth $5,586,330 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXPD. Point72 Hong Kong Ltd increased its holdings in Expeditors International of Washington by 4.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,773 shares of the transportation company’s stock valued at $286,000 after acquiring an additional 146 shares during the last quarter. Mason Street Advisors LLC increased its holdings in Expeditors International of Washington by 0.6% in the 1st quarter. Mason Street Advisors LLC now owns 24,491 shares of the transportation company’s stock valued at $1,859,000 after acquiring an additional 158 shares during the last quarter. Glen Harbor Capital Management LLC increased its holdings in Expeditors International of Washington by 1.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,200 shares of the transportation company’s stock valued at $774,000 after acquiring an additional 170 shares during the last quarter. Hartford Investment Management Co. increased its holdings in Expeditors International of Washington by 1.0% in the 2nd quarter. Hartford Investment Management Co. now owns 18,973 shares of the transportation company’s stock valued at $1,439,000 after acquiring an additional 193 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in Expeditors International of Washington by 9.5% in the 1st quarter. ETF Managers Group LLC now owns 2,280 shares of the transportation company’s stock valued at $173,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Expeditors International of Washington from $73.00 to $72.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Tuesday. Cowen restated a “hold” rating and set a $79.00 target price on shares of Expeditors International of Washington in a research note on Tuesday, August 6th. Loop Capital started coverage on shares of Expeditors International of Washington in a research note on Thursday, May 30th. They set a “hold” rating and a $78.00 target price on the stock. Finally, UBS Group set a $67.00 target price on shares of Expeditors International of Washington and gave the company a “sell” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.13.

Expeditors International of Washington Company Profile

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, and other logistics solutions.

Read More: Understanding the Price to Earnings Ratio (PE)

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