Expeditors International of Washington (NASDAQ:EXPD) Hits New 52-Week High on Analyst Upgrade

Key Points

• Expeditors International of Washington (NASDAQ:EXPD) hit a new 52-week high after UBS Group raised its price target from $175 to $191 and kept a buy rating on the stock.
• The shares traded as high as $168.70, up about 2.7% on the day, while multiple other analysts also recently adjusted ratings and targets, leaving the consensus view at Hold with an average price target of $142.22.
• The company posted solid quarterly results, including EPS of $1.71 versus $1.33 expected, along with 4.4% revenue growth year over year, and it continues to attract heavy institutional ownership.

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $175.00 to $191.00. UBS Group currently has a buy rating on the stock. Expeditors International of Washington traded as high as $168.70 and last traded at $168.68, with a volume of 386141 shares changing hands. The stock had previously closed at $164.36.

EXPD has been the subject of several other research reports. Barclays boosted their target price on Expeditors International of Washington from $135.00 to $150.00 and gave the stock an "underweight" rating in a research note on Thursday, June 25th. Zacks Research raised shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Stephens upgraded shares of Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday. Susquehanna lifted their price target on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their price objective on Expeditors International of Washington from $135.00 to $139.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $142.22.

Institutional Trading of Expeditors International of Washington

Several hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock worth $945,004,000 after purchasing an additional 377,703 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Expeditors International of Washington by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock worth $940,597,000 after buying an additional 32,063 shares during the last quarter. Marshfield Associates lifted its position in Expeditors International of Washington by 4.6% in the 3rd quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company's stock worth $238,161,000 after buying an additional 86,182 shares during the last quarter. Wellington Management Group LLP boosted its stake in Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock worth $235,486,000 after buying an additional 749,993 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock valued at $231,432,000 after acquiring an additional 1,661,457 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Stock Up 2.7%

The firm has a market capitalization of $22.08 billion, a P/E ratio of 29.48, a PEG ratio of 5.00 and a beta of 1.04. The business's 50-day simple moving average is $159.65 and its 200 day simple moving average is $153.90.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same quarter in the prior year, the business posted $1.47 EPS. Expeditors International of Washington's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.81 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a yield of 101.0%. Expeditors International of Washington's payout ratio is currently 26.21%.

About Expeditors International of Washington

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.

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