Expeditors International of Washington (NASDAQ:EXPD) Given New $220.00 Price Target at UBS Group

Key Points

• UBS Group raised its price target for Expeditors International of Washington to $220 from $210 and maintained a “buy” rating, implying 14.74% potential upside.
• Analyst sentiment remains mixed: the stock has a consensus “hold” rating and an average price target of $174, despite recent target increases from several firms.
• Expeditors reported quarterly earnings of $2.03 per share, beating estimates of $1.69, while revenue increased 32.1% year over year. Shares recently traded at $191.74, near their 52-week high of $194.59.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its price target lifted by research analysts at UBS Group from $210.00 to $220.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. UBS Group's target price indicates a potential upside of 14.74% from the company's current price.

Several other equities analysts have also recently issued reports on the company. TD Cowen upped their price objective on Expeditors International of Washington from $148.00 to $176.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. BNP Paribas Exane initiated coverage on Expeditors International of Washington in a report on Wednesday. They issued a "neutral" rating and a $180.00 target price for the company. Truist Financial increased their price objective on Expeditors International of Washington from $145.00 to $175.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. Bank of America boosted their target price on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upgraded shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 target price on the stock in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $174.00.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock traded up $4.00 during mid-day trading on Friday, reaching $191.74. The stock had a trading volume of 946,137 shares, compared to its average volume of 1,272,595. Expeditors International of Washington has a one year low of $112.94 and a one year high of $194.59. The company has a 50-day moving average price of $184.82 and a two-hundred day moving average price of $166.70. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 5.00 and a beta of 1.06.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same quarter last year, the company posted $1.34 earnings per share. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. On average, equities research analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expeditors International of Washington

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Expeditors International of Washington by 6.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,946 shares of the transportation company's stock valued at $480,000 after acquiring an additional 179 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Expeditors International of Washington by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,107,979 shares of the transportation company's stock worth $180,578,000 after acquiring an additional 3,909 shares during the last quarter. Andra AP fonden grew its stake in Expeditors International of Washington by 151.0% during the second quarter. Andra AP fonden now owns 95,421 shares of the transportation company's stock valued at $15,552,000 after acquiring an additional 57,400 shares in the last quarter. State Street Corp grew its position in shares of Expeditors International of Washington by 1.5% during the second quarter. State Street Corp now owns 7,335,241 shares of the transportation company's stock valued at $1,195,498,000 after purchasing an additional 109,798 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Expeditors International of Washington in the second quarter worth about $163,000. Hedge funds and other institutional investors own 94.02% of the company's stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.

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