Morgan Stanley Raises Expeditors International of Washington (NASDAQ:EXPD) Price Target to $88.00


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Expeditors International of Washington (NASDAQ:EXPD) had its target price increased by analysts at Morgan Stanley from $78.00 to $88.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price indicates a potential downside of 19.75% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective on the stock in a research report on Tuesday, January 5th. Barclays cut shares of Expeditors International of Washington from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 13th. Cowen increased their price target on shares of Expeditors International of Washington from $97.00 to $109.00 and gave the company a “market perform” rating in a research report on Wednesday, February 17th. Finally, Vertical Research assumed coverage on shares of Expeditors International of Washington in a research report on Friday, March 26th. They set a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Expeditors International of Washington currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Shares of Expeditors International of Washington stock traded up $0.14 on Tuesday, reaching $109.66. The stock had a trading volume of 30,235 shares, compared to its average volume of 1,100,335. Expeditors International of Washington has a 1 year low of $67.56 and a 1 year high of $110.63. The company has a market cap of $18.50 billion, a P/E ratio of 29.37 and a beta of 0.75. The business’s 50 day moving average is $101.40 and its two-hundred day moving average is $94.38.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Monday, February 15th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.40 billion. Expeditors International of Washington had a net margin of 7.06% and a return on equity of 28.55%. On average, research analysts forecast that Expeditors International of Washington will post 3.98 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Perigon Wealth Management LLC bought a new position in shares of Expeditors International of Washington in the fourth quarter worth approximately $32,000. Alpha DNA Investment Management LLC bought a new position in shares of Expeditors International of Washington in the fourth quarter worth approximately $33,000. International Assets Investment Management LLC bought a new position in shares of Expeditors International of Washington in the fourth quarter worth approximately $38,000. Key Financial Inc bought a new position in shares of Expeditors International of Washington in the fourth quarter worth approximately $39,000. Finally, Vantage Consulting Group Inc bought a new position in shares of Expeditors International of Washington in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 91.17% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

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Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

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