Expeditors International of Washington (NASDAQ:EXPD) Hits New 12-Month High – Here’s Why

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) reached a new 52-week high during trading on Monday. The company traded as high as $200.66 and last traded at $196.8750, with a volume of 1,278,423 shares changing hands. The stock had previously closed at $195.91.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Bank of America lifted their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Truist Financial raised their price objective on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. BNP Paribas Exane assumed coverage on shares of Expeditors International of Washington in a research report on Wednesday, September 30th. They issued a “neutral” rating and a $180.00 price target for the company. Finally, Citizens Jmp began coverage on shares of Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $175.27.

Expeditors International of Washington Stock Up 0.8%

The stock’s 50 day moving average price is $189.23 and its two-hundred day moving average price is $170.64. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%. During the same quarter in the previous year, the business earned $1.34 earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. On average, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Expeditors International of Washington

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Expeditors International of Washington in the second quarter worth approximately $2,193,093,000. Caisse de depot et placement du Quebec acquired a new stake in Expeditors International of Washington in the second quarter valued at approximately $169,665,000. Legal & General Group Plc acquired a new stake in Expeditors International of Washington in the second quarter valued at approximately $125,395,000. Bank of New York Mellon Corp acquired a new stake in Expeditors International of Washington in the second quarter valued at approximately $108,099,000. Finally, Deutsche Bank AG bought a new stake in Expeditors International of Washington in the second quarter worth approximately $102,595,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.