Expeditors International of Washington (NASDAQ:EXPD) Downgraded by Wells Fargo & Company

Wells Fargo & Company cut shares of Expeditors International of Washington (NASDAQ:EXPDGet Rating) from an equal weight rating to an underweight rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has $95.00 price target on the transportation company’s stock.

Several other equities research analysts have also issued reports on EXPD. Susquehanna decreased their price target on shares of Expeditors International of Washington from $110.00 to $95.00 in a report on Wednesday, November 9th. StockNews.com assumed coverage on shares of Expeditors International of Washington in a report on Wednesday, October 12th. They set a hold rating for the company. Morgan Stanley cut their price objective on Expeditors International of Washington from $94.00 to $86.00 and set an underweight rating on the stock in a report on Monday, October 3rd. Cowen lowered their target price on Expeditors International of Washington to $122.00 in a report on Tuesday, November 15th. Finally, Barclays dropped their target price on Expeditors International of Washington from $95.00 to $90.00 and set an underweight rating for the company in a research report on Thursday, October 13th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $101.13.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $113.99 on Tuesday. The company’s 50 day simple moving average is $97.00 and its 200 day simple moving average is $100.86. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.97 and a beta of 0.93. Expeditors International of Washington has a 1 year low of $86.08 and a 1 year high of $137.80.

Expeditors International of Washington (NASDAQ:EXPDGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.63. Expeditors International of Washington had a return on equity of 44.27% and a net margin of 8.36%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. Expeditors International of Washington’s revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Expeditors International of Washington will post 8.14 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.67 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio is presently 14.08%.

Insider Buying and Selling at Expeditors International of Washington

In other news, CFO Bradley S. Powell sold 17,206 shares of Expeditors International of Washington stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total value of $1,827,793.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Expeditors International of Washington news, CFO Bradley S. Powell sold 17,206 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total transaction of $1,827,793.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eugene K. Alger sold 11,500 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $113.43, for a total transaction of $1,304,445.00. Following the transaction, the insider now owns 17,879 shares in the company, valued at approximately $2,028,014.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,692 shares of company stock valued at $3,237,336. 0.55% of the stock is currently owned by insiders.

Institutional Trading of Expeditors International of Washington

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toroso Investments LLC grew its stake in Expeditors International of Washington by 11.0% in the third quarter. Toroso Investments LLC now owns 16,885 shares of the transportation company’s stock valued at $1,491,000 after acquiring an additional 1,668 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Expeditors International of Washington by 7.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,531 shares of the transportation company’s stock valued at $225,000 after purchasing an additional 168 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in Expeditors International of Washington during the 3rd quarter valued at $4,846,000. Power Corp of Canada bought a new stake in Expeditors International of Washington during the 3rd quarter valued at $2,918,000. Finally, Legend Financial Advisors Inc. bought a new position in shares of Expeditors International of Washington in the third quarter valued at $53,000. 89.56% of the stock is owned by institutional investors.

About Expeditors International of Washington

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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.

Further Reading

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

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