Expeditors International of Washington (NASDAQ:EXPD) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Expeditors International of Washington from $181 to $189 and kept a buy rating, implying about 6.7% upside from the current price.
• Analyst views remain mixed overall: the stock has a consensus Hold rating with an average target price of $153.78, even as UBS, Zacks, and others have recently adjusted their ratings and targets.
• Expeditors recently posted better-than-expected earnings of $1.71 per share versus estimates of $1.33, with revenue up 4.4% year over year and the stock trading near its 52-week high.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its price target raised by equities researchers at Bank of America from $181.00 to $189.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the transportation company's stock. Bank of America's price target points to a potential upside of 6.71% from the company's current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Stifel Nicolaus upped their price target on 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. Barclays upped their price objective on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the stock an "underweight" rating in a research report on Thursday, June 25th. Finally, UBS Group lifted their price objective on Expeditors International of Washington from $175.00 to $191.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $153.78.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $177.12 on Tuesday. The stock's fifty day moving average is $163.70 and its two-hundred day moving average is $155.32. The stock has a market cap of $23.17 billion, a PE ratio of 30.97, a P/E/G ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a 1-year low of $110.48 and a 1-year high of $183.52.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $1.47 earnings per share. Expeditors International of Washington's quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Institutional Trading of Expeditors International of Washington

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Expeditors International of Washington by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company's stock valued at $1,944,000 after purchasing an additional 623 shares during the period. Jones Financial Companies Lllp lifted its position in Expeditors International of Washington by 75.4% during the first quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company's stock worth $279,000 after buying an additional 999 shares during the period. Woodline Partners LP lifted its position in Expeditors International of Washington by 40.7% during the first quarter. Woodline Partners LP now owns 11,826 shares of the transportation company's stock worth $1,422,000 after buying an additional 3,420 shares during the period. Focus Partners Wealth boosted its stake in Expeditors International of Washington by 33.9% in the 1st quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company's stock worth $628,000 after buying an additional 1,324 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Expeditors International of Washington by 29.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company's stock worth $127,000 after buying an additional 255 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

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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