Expeditors International of Washington (NASDAQ:EXPD) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Expeditors International of Washington to “Hold” from “Strong Buy.” The broader analyst consensus is also “Hold,” with a consensus price target of $175.27.
• Expeditors reported quarterly EPS of $2.03, exceeding the $1.69 analyst estimate, while revenue increased 32.1% year over year. Analysts expect full-year EPS of approximately $5.39.
• The stock opened at $191.76, near its 52-week high of $195.32, with a market capitalization of about $24.93 billion; institutional investors and hedge funds own 94.02% of shares.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

A number of other research analysts have also recently commented on EXPD. Stifel Nicolaus raised their price target on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a research note on Wednesday, July 15th. UBS Group upped their price objective on Expeditors International of Washington from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Truist Financial increased their target price on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Citizens Jmp initiated coverage on Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Finally, Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $175.27.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock opened at $191.76 on Monday. Expeditors International of Washington has a 52-week low of $112.94 and a 52-week high of $195.32. The firm has a market capitalization of $24.93 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 5.00 and a beta of 1.07. The company's fifty day moving average price is $186.03 and its two-hundred day moving average price is $167.74.

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 EPS for the quarter, topping 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 in the prior year, the business posted $1.34 earnings per share. The firm's revenue was up 32.1% compared to the same quarter last year. Analysts predict that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Expeditors International of Washington

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Expeditors International of Washington in the second quarter worth $2,193,093,000. State Street Corp raised its holdings in shares of Expeditors International of Washington by 1.5% in 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 buying an additional 109,798 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Expeditors International of Washington by 0.8% in the second quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock valued at $421,456,000 after buying an additional 21,400 shares during the last quarter. Baird Financial Group Inc. lifted its position in Expeditors International of Washington by 2.7% during the 2nd quarter. Baird Financial Group Inc. now owns 2,239,665 shares of the transportation company's stock worth $365,021,000 after buying an additional 57,823 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Expeditors International of Washington by 10.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company's stock worth $351,273,000 after buying an additional 195,351 shares in the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

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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