Expeditors International of Washington (NASDAQ:EXPD) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Expeditors International of Washington from “underweight” to “neutral” and set a $200 price target, implying 9.84% upside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying a consensus “hold” rating and an average price target of $166.67.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year; the stock opened at $182.09 and was near its 52-week high.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a $200.00 target price on the transportation company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 9.84% from the stock's previous close.

Several other research analysts have also commented on EXPD. Truist Financial lifted their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. 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. UBS Group increased their price target 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. 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. Finally, Susquehanna boosted their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $166.67.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $182.09 on Wednesday. The company has a market cap of $23.82 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a 1 year low of $112.94 and a 1 year high of $183.52. The stock's 50 day simple moving average is $167.32 and its two-hundred day simple moving average is $156.65.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its earnings results on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.34. 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 company posted $1.34 earnings per share. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, analysts anticipate that Expeditors International of Washington will post 5.39 EPS for the current year.

Institutional Investors Weigh In On Expeditors International of Washington

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $231,432,000 after purchasing an additional 1,661,457 shares during the period. Southpoint Capital Advisors LP purchased a new stake in Expeditors International of Washington in the 4th quarter valued at about $201,164,000. Norges Bank bought a new position in Expeditors International of Washington in the 4th quarter worth about $180,719,000. Balyasny Asset Management L.P. purchased a new position in shares of Expeditors International of Washington during the third quarter worth approximately $113,194,000. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 valued at $235,486,000 after purchasing an additional 749,993 shares during the period. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Company Profile

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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