Expeditors International of Washington (NASDAQ:EXPD) Reaches New 1-Year High - Here's Why

Key Points

• Expeditors International shares reached a new 52-week high, trading as high as $189.99 and last changing hands near $188.90. The stock is up notably above its 50-day and 200-day moving averages of $173.50 and $158.90, respectively.
• The company reported stronger-than-expected quarterly results, with earnings per share of $2.03 versus the $1.69 consensus estimate and revenue growth of 32.1% year over year. Analysts project full-year EPS of $5.39.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $168.78, below the current share price. Institutional investors own approximately 94.02% of the company’s stock.

Expeditors International of Washington, Inc. (NASDAQ:EXPD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $189.99 and last traded at $188.8950, with a volume of 303836 shares traded. The stock had previously closed at $187.83.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EXPD shares. Barclays increased their target price on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 target price for the company in a research note on Wednesday, August 5th. TD Cowen increased their price objective on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a research report on Wednesday, August 5th. Bank of America boosted their price objective on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Zacks Research raised Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a report 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Price Performance

The business's 50-day moving average is $173.50 and its 200 day moving average is $158.90. The firm has a market capitalization of $24.55 billion, a P/E ratio of 33.02, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04.

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

Institutional Investors Weigh In On Expeditors International of Washington

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Expeditors International of Washington by 12,384.8% during the second quarter. California State Teachers Retirement System now owns 40,489,447 shares of the transportation company's stock valued at $6,598,970,000 after purchasing an additional 40,165,136 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Expeditors International of Washington in the second quarter valued at approximately $2,193,093,000. State Street Corp raised its holdings in Expeditors International of Washington by 5.2% in the 3rd quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock valued at $945,004,000 after buying an additional 377,703 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Expeditors International of Washington by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock valued at $940,597,000 after buying an additional 32,063 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Expeditors International of Washington by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock worth $421,456,000 after buying an additional 21,400 shares during the period. Institutional investors and hedge funds own 94.02% of the company's stock.

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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