TD Cowen Boosts Expeditors International of Washington (NASDAQ:EXPD) Price Target to $176.00

Key Points

• TD Cowen raised its price target for Expeditors International of Washington from $148 to $176 while maintaining a “sell” rating, implying 3.34% downside from the stock’s then-current price.
• Analyst opinions remain mixed: the consensus rating is “Hold,” with an average price target of $158.78, despite some firms issuing buy or strong-buy recommendations.
• Expeditors reported quarterly EPS of $2.03, exceeding estimates of $1.69, while revenue increased 32.1% year over year. Shares opened at $182.09, near their 52-week high of $183.52.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its target price boosted by research analysts at TD Cowen from $148.00 to $176.00 in a research report issued on Wednesday. The brokerage presently has a "sell" rating on the transportation company's stock. TD Cowen's price objective would indicate a potential downside of 3.34% from the stock's current price.

A number of other research firms have also recently commented on EXPD. Truist Financial upped their price objective on Expeditors International of Washington from $145.00 to $175.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Zacks Research raised shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Bank of America upped their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Stephens upgraded Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.78.

Expeditors International of Washington Stock Up 6.7%

Shares of EXPD opened at $182.09 on Wednesday. The firm's fifty day moving average is $167.32 and its two-hundred day moving average is $156.65. The stock has a market cap of $23.82 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. Expeditors International of Washington has a 52-week low of $112.94 and a 52-week high of $183.52.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating 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 business's quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. As a group, research analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On Expeditors International of Washington

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Expeditors International of Washington by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company's stock worth $1,944,000 after acquiring an additional 623 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Expeditors International of Washington by 75.4% in the first quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company's stock valued at $279,000 after purchasing an additional 999 shares in the last quarter. Woodline Partners LP boosted its holdings in Expeditors International of Washington by 40.7% in the first quarter. Woodline Partners LP now owns 11,826 shares of the transportation company's stock valued at $1,422,000 after purchasing an additional 3,420 shares in the last quarter. Focus Partners Wealth increased its stake in Expeditors International of Washington by 33.9% in the first quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company's stock valued at $628,000 after purchasing an additional 1,324 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Expeditors International of Washington by 29.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company's stock valued at $127,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Company 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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