Bank of Nova Scotia Makes New Investment in Expeditors International of Washington, Inc. $EXPD

Key Points

• Bank of Nova Scotia purchased 186,396 shares of Expeditors International of Washington in the second quarter, valued at approximately $30.4 million and representing about 0.14% of the company.
• Institutional ownership remains high at 94.02%, with BlackRock, UBS Asset Management, Southpoint Capital, Norges Bank and Balyasny Asset Management among other major investors increasing or initiating positions.
• Expeditors reported quarterly EPS of $2.03, exceeding the $1.69 consensus estimate, while revenue rose 32.1% year over year. Analysts have a consensus “Hold” rating and an average price target of $168.78.

Bank of Nova Scotia purchased a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 186,396 shares of the transportation company's stock, valued at approximately $30,379,000. Bank of Nova Scotia owned about 0.14% of Expeditors International of Washington as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EXPD. BlackRock Inc. purchased a new position 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 lifted 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 purchasing an additional 1,661,457 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in Expeditors International of Washington during the fourth quarter valued at about $201,164,000. Norges Bank purchased a new stake in Expeditors International of Washington in the fourth quarter worth about $180,719,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Expeditors International of Washington in the third quarter worth about $113,194,000. Institutional investors own 94.02% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXPD. Barclays boosted their price objective on Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a research note on Wednesday, August 5th. Citizens Jmp initiated coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 15th. They set a "market perform" rating on the stock. Susquehanna lifted their price target on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. UBS Group upped their price target on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $168.78.

Expeditors International of Washington Stock Up 0.0%

Shares of Expeditors International of Washington stock opened at $187.83 on Monday. The company has a market capitalization of $24.42 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 5.00 and a beta of 1.04. The stock's 50-day simple moving average is $173.01 and its 200-day simple moving average is $158.72. Expeditors International of Washington, Inc. has a 52 week low of $112.94 and a 52 week high of $189.99.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Expeditors International of Washington's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington 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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