Expeditors International of Washington (NASDAQ:EXPD) Reaches New 12-Month High - Here's What Happened

Key Points

• Expeditors International of Washington shares reached a new 52-week high, trading as high as $192.34 and closing around $190.93, up 1.4% from the prior close.
• The company reported strong quarterly results, with EPS of $2.03 beating estimates of $1.69 and revenue rising 32.1% year over year. Analysts’ consensus rating remains “Hold,” with an average price target of $168.78 despite several upward target revisions.
• Institutional ownership is substantial at 94.02%, with several investment firms recently increasing their positions or initiating new stakes in the logistics company.

Expeditors International of Washington, Inc. (NASDAQ:EXPD - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $192.34 and last traded at $190.9250, with a volume of 104970 shares changing hands. The stock had previously closed at $189.32.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Truist Financial boosted their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a "hold" rating in a research note on Wednesday, July 15th. Barclays upped their price objective on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the stock an "underweight" rating in a report 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. Finally, Stephens upgraded shares of Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Two 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $168.78.

Expeditors International of Washington Stock Up 1.4%

The company's 50-day moving average price is $180.29 and its 200-day moving average price is $161.96. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 5.00 and a beta of 1.06.

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 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%. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. On average, sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Expeditors International of Washington

Several large investors have recently bought and sold shares of EXPD. Arjuna Capital increased its stake in shares of Expeditors International of Washington by 37.0% during the 4th quarter. Arjuna Capital now owns 23,940 shares of the transportation company's stock worth $3,567,000 after purchasing an additional 6,471 shares in the last quarter. Forsta AP Fonden lifted its stake in Expeditors International of Washington by 81.4% in the 4th quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company's stock valued at $13,351,000 after buying an additional 40,200 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Expeditors International of Washington during the 4th quarter valued at $32,004,000. Kentucky Retirement Systems increased its position in Expeditors International of Washington by 97.2% during the first quarter. Kentucky Retirement Systems now owns 16,973 shares of the transportation company's stock worth $2,431,000 after buying an additional 8,367 shares in the last quarter. Finally, Midway Capital Research & Management purchased a new position in Expeditors International of Washington during the fourth quarter worth $2,432,000. Hedge funds and other institutional investors own 94.02% of the company's stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics and supply chain management company headquartered in Seattle, Washington. The company provides transportation and related services that help businesses move goods through international and domestic supply chains.

Its primary services include airfreight and ocean-freight forwarding, customs brokerage, cargo consolidation, warehousing and distribution, order management, and other supply chain solutions. Expeditors also offers technology-enabled shipment visibility and logistics coordination designed to support customers' import, export, and distribution activities.

Founded in 1979, Expeditors serves a broad range of industries through a network of offices and facilities across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

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