Expeditors International of Washington (NASDAQ:EXPD) Given New $120.00 Price Target at Bank of America

Expeditors International of Washington (NASDAQ:EXPD) had its price objective lowered by Bank of America from $129.00 to $120.00 in a research report sent to investors on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other analysts have also weighed in on the stock. Wolfe Research lowered shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 9th. TD Cowen upped their price objective on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $117.11.

Expeditors International of Washington Stock Down 0.3 %

Shares of EXPD opened at $111.06 on Thursday. The stock’s 50-day moving average price is $116.43 and its 200 day moving average price is $120.10. Expeditors International of Washington has a 12-month low of $108.36 and a 12-month high of $131.59. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 3.18 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, November 5th. The transportation company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.30. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the company posted $1.16 earnings per share. Expeditors International of Washington’s revenue was up 37.0% on a year-over-year basis. Equities research analysts expect that Expeditors International of Washington will post 5.47 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.73 dividend. This represents a yield of 1.2%. The ex-dividend date was Monday, December 2nd. Expeditors International of Washington’s dividend payout ratio is currently 28.46%.

Insider Activity

In other Expeditors International of Washington news, Director Robert Paul Carlile sold 3,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total value of $363,330.00. Following the completion of the transaction, the director now directly owns 9,662 shares of the company’s stock, valued at approximately $1,170,164.82. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Expeditors International of Washington

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC boosted its position in Expeditors International of Washington by 3.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,777,134 shares of the transportation company’s stock valued at $346,559,000 after buying an additional 82,107 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Expeditors International of Washington by 12.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,400,949 shares of the transportation company’s stock valued at $315,485,000 after acquiring an additional 257,791 shares during the period. Marshfield Associates boosted its holdings in Expeditors International of Washington by 0.4% in the third quarter. Marshfield Associates now owns 1,818,027 shares of the transportation company’s stock valued at $238,889,000 after acquiring an additional 6,878 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Expeditors International of Washington by 16.8% in the second quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company’s stock valued at $197,538,000 after acquiring an additional 227,671 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Expeditors International of Washington by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,278,815 shares of the transportation company’s stock worth $159,595,000 after purchasing an additional 85,393 shares during the period. Institutional investors and hedge funds 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.