Expeditors International of Washington (NASDAQ:EXPD) Cut to "Underperform" at Bank of America

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) was downgraded by Bank of America from a "neutral" rating to an "underperform" rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $118.00 price target on the transportation company's stock, up from their previous price target of $117.00. Bank of America's target price indicates a potential upside of 2.00% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. Barclays reduced their price target on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a report on Wednesday, May 7th. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. UBS Group reduced their price objective on shares of Expeditors International of Washington from $128.00 to $117.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Robert W. Baird assumed coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, Expeditors International of Washington presently has an average rating of "Hold" and an average target price of $113.89.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD traded down $3.56 during trading hours on Friday, hitting $115.69. 1,486,589 shares of the stock were exchanged, compared to its average volume of 1,248,732. The company's 50 day moving average is $114.10 and its 200 day moving average is $113.48. The firm has a market capitalization of $15.84 billion, a P/E ratio of 20.23, a P/E/G ratio of 5.00 and a beta of 1.07. Expeditors International of Washington has a one year low of $100.47 and a one year high of $131.59.

Institutional Trading of Expeditors International of Washington

A number of institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in Expeditors International of Washington by 53.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock worth $19,343,000 after acquiring an additional 56,008 shares in the last quarter. State of Alaska Department of Revenue raised its position in Expeditors International of Washington by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock worth $1,971,000 after acquiring an additional 430 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Expeditors International of Washington by 17.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock worth $667,000 after acquiring an additional 834 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Expeditors International of Washington during the first quarter worth $200,000. Finally, DAVENPORT & Co LLC bought a new stake in Expeditors International of Washington during the first quarter worth $203,000. Institutional investors own 94.02% of the company's stock.

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.