Expeditors International of Washington (NASDAQ:EXPD) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Expeditors International of Washington (NASDAQ:EXPD) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat.com reports.

Other analysts also recently issued reports about the stock. Truist Financial boosted their price target on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Barclays increased their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. Zacks Research raised Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Stifel Nicolaus increased their price objective on Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Finally, Morgan Stanley lifted their target price on shares of Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $128.80.

Expeditors International of Washington Stock Performance

Shares of EXPD opened at $158.89 on Friday. Expeditors International of Washington has a fifty-two week low of $100.47 and a fifty-two week high of $160.19. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 5.00 and a beta of 1.14. The firm has a 50 day moving average price of $146.97 and a 200-day moving average price of $128.57.

Expeditors International of Washington Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.77 dividend. The ex-dividend date was Monday, December 1st. This represents a yield of 105.0%. Expeditors International of Washington’s dividend payout ratio is 25.12%.

Insider Activity

In other news, Director Mark A. Emmert sold 5,400 shares of Expeditors International of Washington stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $135.25, for a total transaction of $730,350.00. Following the sale, the director owned 6,468 shares of the company’s stock, valued at approximately $874,797. The trade was a 45.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey F. Dickerman sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $134.17, for a total transaction of $201,255.00. Following the transaction, the vice president owned 6,151 shares in the company, valued at $825,279.67. This represents a 19.61% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC raised its holdings in Expeditors International of Washington by 82.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 268 shares of the transportation company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Community Bank N.A. bought a new position in shares of Expeditors International of Washington in the 3rd quarter worth about $34,000. Atlantic Union Bankshares Corp purchased a new position in shares of Expeditors International of Washington during the second quarter valued at approximately $34,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Expeditors International of Washington in the 3rd quarter worth approximately $43,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Expeditors International of Washington by 63.6% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 360 shares of the transportation company’s stock worth $44,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

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.