Manatuck Hill Partners LLC Acquires Shares of 3,000 Expeditors International of Washington, Inc. $EXPD

Manatuck Hill Partners LLC purchased a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the transportation company’s stock, valued at approximately $489,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Swedbank AB lifted its position in Expeditors International of Washington by 153.5% during the fourth quarter. Swedbank AB now owns 29,678 shares of the transportation company’s stock worth $4,422,000 after purchasing an additional 17,969 shares during the period. Arjuna Capital lifted its stake in Expeditors International of Washington by 37.0% during the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company’s stock worth $3,567,000 after purchasing an additional 6,471 shares during the last quarter. Forsta AP Fonden lifted its stake in Expeditors International of Washington by 81.4% during the fourth quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company’s stock worth $13,351,000 after purchasing an additional 40,200 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Expeditors International of Washington in the 4th quarter valued at $32,004,000. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Expeditors International of Washington during the 4th quarter worth $65,957,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Performance

EXPD stock opened at $188.90 on Wednesday. The stock’s 50 day simple moving average is $174.00 and its 200 day simple moving average is $159.07. Expeditors International of Washington, Inc. has a fifty-two week low of $112.94 and a fifty-two week high of $189.99. The company has a market cap of $24.55 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.Expeditors International of Washington’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. Equities analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXPD. JPMorgan Chase & Co. upgraded shares of Expeditors International of Washington from an “underweight” rating to a “neutral” rating and set a $200.00 price target on the stock in a research note on Wednesday, August 5th. Bank of America increased their target price on Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Stephens upgraded Expeditors International of Washington to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial boosted their target price on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $168.78.

Expeditors International of Washington Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.