Expeditors International of Washington (NASDAQ:EXPD) Price Target Raised to $112.00 at TD Cowen

Expeditors International of Washington (NASDAQ:EXPD) had its price objective hoisted by equities researchers at TD Cowen from $111.00 to $112.00 in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential downside of 2.46% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Expeditors International of Washington from $106.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, April 9th. Bank of America initiated coverage on Expeditors International of Washington in a report on Friday, March 15th. They set a “neutral” rating and a $126.00 price target for the company. BNP Paribas downgraded Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a research note on Thursday, January 11th. Finally, Stifel Nicolaus boosted their price objective on Expeditors International of Washington from $114.00 to $117.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $110.75.

Expeditors International of Washington Price Performance

EXPD stock opened at $114.83 on Wednesday. The company has a market cap of $16.29 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 8.49 and a beta of 1.00. Expeditors International of Washington has a 1 year low of $107.03 and a 1 year high of $131.17. The stock’s fifty day moving average price is $117.76 and its 200-day moving average price is $120.38.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.08. Expeditors International of Washington had a net margin of 8.10% and a return on equity of 28.43%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted $1.45 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, analysts expect that Expeditors International of Washington will post 4.75 earnings per share for the current year.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 2,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total transaction of $245,260.00. Following the completion of the sale, the vice president now owns 5,728 shares in the company, valued at $702,424.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXPD. First Trust Advisors LP raised its position in shares of Expeditors International of Washington by 580.8% during the fourth quarter. First Trust Advisors LP now owns 1,584,361 shares of the transportation company’s stock valued at $201,531,000 after buying an additional 1,351,630 shares during the last quarter. Norges Bank purchased a new position in Expeditors International of Washington during the fourth quarter valued at $74,763,000. TD Asset Management Inc increased its holdings in Expeditors International of Washington by 51.9% in the 4th quarter. TD Asset Management Inc now owns 867,160 shares of the transportation company’s stock valued at $110,303,000 after acquiring an additional 296,186 shares during the last quarter. Invesco Ltd. increased its holdings in Expeditors International of Washington by 11.2% in the 3rd quarter. Invesco Ltd. now owns 2,714,889 shares of the transportation company’s stock valued at $311,208,000 after acquiring an additional 273,388 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Expeditors International of Washington by 8,732.2% in the 4th quarter. International Assets Investment Management LLC now owns 225,398 shares of the transportation company’s stock worth $28,671,000 after purchasing an additional 222,846 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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.