Summit Asset Management LLC Takes Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Summit Asset Management acquired 7,726 shares of Expeditors International of Washington in the second quarter, valued at approximately $1.26 million. Institutional investors collectively own 94.02% of the company.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $168.78; ratings range from Strong Buy to Sell.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. Shares opened at $186.38, near their 52-week high of $189.87.

Summit Asset Management LLC acquired a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,726 shares of the transportation company's stock, valued at approximately $1,259,000.

Several other large investors have also recently added to or reduced their stakes in the business. Kelleher Financial Advisors purchased a new stake in Expeditors International of Washington during the 2nd quarter worth approximately $413,000. GSA Capital Partners LLP purchased a new position in Expeditors International of Washington in the 2nd quarter valued at approximately $798,000. Tema ETFs LLC boosted its position in Expeditors International of Washington by 7.5% in the 2nd quarter. Tema ETFs LLC now owns 2,073 shares of the transportation company's stock valued at $338,000 after buying an additional 145 shares during the period. Harrell Investment Partners LLC grew its stake in shares of Expeditors International of Washington by 1.5% in the second quarter. Harrell Investment Partners LLC now owns 8,021 shares of the transportation company's stock worth $1,307,000 after acquiring an additional 120 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of Expeditors International of Washington by 2.5% in the second quarter. Contravisory Investment Management Inc. now owns 7,576 shares of the transportation company's stock worth $1,235,000 after acquiring an additional 182 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXPD has been the topic of several analyst reports. Stephens upgraded Expeditors International of Washington to a "strong-buy" rating in a research note on Wednesday, July 8th. Stifel Nicolaus boosted their target price 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. Susquehanna upped their price target on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. TD Cowen increased their price target on Expeditors International of Washington from $148.00 to $176.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Trading Down 0.4%

Shares of NASDAQ:EXPD opened at $186.38 on Friday. Expeditors International of Washington, Inc. has a 52 week low of $112.94 and a 52 week high of $189.87. The company's 50 day moving average is $170.83 and its two-hundred day moving average is $157.80. The company has a market cap of $24.23 billion, a PE ratio of 32.58, a P/E/G ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings data 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 net margin of 7.64% and a return on equity of 36.16%. The company's quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share. As a group, equities research analysts expect 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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