Expeditors International of Washington (NASDAQ:EXPD) Reaches New 1-Year High - Here's Why

Key Points

• Expeditors International reached a new 52-week high, trading as high as $188.50 and last changing hands near $189.25, up from a previous close of $187.05.
• The company reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $168.78.
• Institutional investors own approximately 94.02% of the company, with major firms including BlackRock, UBS Asset Management, Norges Bank and Balyasny Asset Management recently adding or initiating positions.

Expeditors International of Washington, Inc. (NASDAQ:EXPD - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $188.50 and last traded at $189.2460, with a volume of 54300 shares changing hands. The stock had previously closed at $187.05.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXPD shares. Citizens Jmp began coverage on Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 target price for the company in a research report on Wednesday, August 5th. Susquehanna raised 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 research report on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a research note on Wednesday, August 5th. Finally, Stifel Nicolaus lifted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Trading Up 0.5%

The firm's 50-day moving average price is $170.31 and its 200 day moving average price is $157.60. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) 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 period in the previous year, the business earned $1.34 EPS. Expeditors International of Washington's revenue was up 32.1% on a year-over-year basis. As a group, equities research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expeditors International of Washington

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Expeditors International of Washington during the 2nd quarter worth $2,193,093,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Expeditors International of Washington by 733.9% in 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. Southpoint Capital Advisors LP acquired a new position in Expeditors International of Washington during the fourth quarter worth about $201,164,000. Norges Bank acquired a new position in Expeditors International of Washington during the fourth quarter worth about $180,719,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Expeditors International of Washington in the third quarter worth about $113,194,000. Institutional investors own 94.02% of the company's stock.

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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