Truist Financial Issues Positive Forecast for Expeditors International of Washington (NASDAQ:EXPD) Stock Price

Key Points

• Truist Financial raised its price target on Expeditors International of Washington from $145 to $175, while keeping a hold rating. The new target still implies a slight downside from the stock’s current price.
• Analyst sentiment remains mixed overall, with the consensus rating still at “Hold” and an average price target of $148.56. Recent updates from other firms ranged from upgrades to “strong-buy” to downside-oriented ratings.
• Expeditors recently reported solid quarterly results, with earnings of $1.71 per share beating estimates by $0.38 and revenue rising 4.4% year over year. The stock was trading near its 52-week high after rising 1.5% on the day.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its price target raised by equities researchers at Truist Financial from $145.00 to $175.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the transportation company's stock. Truist Financial's price objective indicates a potential downside of 1.80% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the company a "hold" rating in a report on Wednesday. Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a research note on Wednesday, July 8th. UBS Group boosted their price target on shares of Expeditors International of Washington from $175.00 to $191.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, Barclays raised their price objective on Expeditors International of Washington from $135.00 to $150.00 and gave the company an "underweight" rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $148.56.

Expeditors International of Washington Stock Up 1.5%

NASDAQ:EXPD opened at $178.20 on Wednesday. The business's 50-day simple moving average is $161.62 and its two-hundred day simple moving average is $154.52. Expeditors International of Washington has a 52 week low of $110.48 and a 52 week high of $178.64. The stock has a market cap of $23.31 billion, a PE ratio of 31.15, 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, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.47 earnings per share. Sell-side analysts anticipate that Expeditors International of Washington will post 5.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Expeditors International of Washington

Large investors have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC bought a new stake in shares of Expeditors International of Washington during the fourth quarter valued at approximately $28,000. DV Equities LLC purchased a new position in Expeditors International of Washington during the 4th quarter worth $28,000. Nalls Sherbakoff Group LLC bought a new stake in Expeditors International of Washington during the 4th quarter valued at $30,000. Bard Associates Inc. bought a new stake in Expeditors International of Washington during the 4th quarter valued at $32,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Expeditors International of Washington by 132.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company's stock worth $34,000 after buying an additional 131 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

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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