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

Key Points

• Commerce Bank purchased 18,859 shares of Expeditors International of Washington during the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 94.02% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $168.78; recent targets range from $160 to $210.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. Shares opened at $187.92, near their 52-week high of $189.99.

Commerce Bank purchased a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,859 shares of the transportation company's stock, valued at approximately $3,074,000.

A number of other institutional investors also recently modified their holdings of EXPD. Northwestern Mutual Wealth Management Co. acquired a new position in Expeditors International of Washington in the second quarter valued at $575,000. Quantbot Technologies LP bought a new stake in Expeditors International of Washington during the second quarter valued at $1,221,000. Evolve Private Wealth LLC acquired a new stake in Expeditors International of Washington during the 2nd quarter worth about $3,855,000. Korea Investment CORP acquired a new stake in Expeditors International of Washington during the 2nd quarter worth about $12,201,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Expeditors International of Washington in the 2nd quarter worth about $313,000. 94.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group upped their target price on Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upgraded Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 target price for the company in a report on Wednesday, August 5th. Barclays boosted their price target 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. TD Cowen increased their price target on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. Finally, Truist Financial raised their price objective on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Trading Up 0.1%

Shares of NASDAQ EXPD opened at $187.92 on Tuesday. The firm has a market capitalization of $24.43 billion, a P/E ratio of 32.85, a P/E/G ratio of 5.00 and a beta of 1.04. The firm's 50-day moving average price is $173.50 and its 200-day moving average price is $158.90. Expeditors International of Washington, Inc. has a 1-year low of $112.94 and a 1-year high of $189.99.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, beating 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%.During the same period in the prior year, the firm posted $1.34 earnings per share. The business's revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS 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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