Expeditors International of Washington (NASDAQ:EXPD) Trading Down 1.7% – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD) fell 1.7% on Friday . The stock traded as low as $114.00 and last traded at $114.50. 357,748 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,328,512 shares. The stock had previously closed at $116.49.

Analysts Set New Price Targets

EXPD has been the subject of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, February 19th. UBS Group reduced their price target on shares of Expeditors International of Washington from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Bank of America cut their target price on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com lowered Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Finally, Stifel Nicolaus dropped their price objective on Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $115.90.

Expeditors International of Washington Price Performance

The firm has a market cap of $15.98 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 5.00 and a beta of 1.00. The company has a 50 day simple moving average of $114.24 and a 200-day simple moving average of $118.29.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value of $146,925.00. Following the transaction, the vice president now 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. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Expeditors International of Washington

Hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in shares of Expeditors International of Washington by 32.0% in the fourth quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company’s stock worth $450,881,000 after buying an additional 987,233 shares during the period. Norges Bank purchased a new stake in shares of Expeditors International of Washington during the 4th quarter worth $107,863,000. Boston Partners boosted its holdings in shares of Expeditors International of Washington by 29.7% in the 4th quarter. Boston Partners now owns 3,797,712 shares of the transportation company’s stock valued at $420,693,000 after buying an additional 869,637 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Expeditors International of Washington by 33.8% during the 4th quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company’s stock valued at $302,936,000 after purchasing an additional 690,539 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in Expeditors International of Washington in the fourth quarter worth about $55,036,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Company Profile

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.