Expeditors International of Washington (NASDAQ:EXPD) Hits New 12-Month High on Analyst Upgrade

Expeditors International of Washington, Inc. (NASDAQ:EXPD) shares hit a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $145.00 to $175.00. Truist Financial currently has a hold rating on the stock. Expeditors International of Washington traded as high as $178.64 and last traded at $178.2020, with a volume of 1771704 shares changing hands. The stock had previously closed at $175.50.

A number of other research firms also recently issued reports on EXPD. Barclays upped their target price on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the company an “underweight” rating in a research report on Thursday, June 25th. Zacks Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Stephens raised shares of Expeditors International of Washington to a “strong-buy” rating in a research note on Wednesday, July 8th. Susquehanna increased their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Stifel Nicolaus raised their price objective on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Expeditors International of Washington has a consensus rating of “Hold” and an average price target of $148.56.

Institutional Investors Weigh In On Expeditors International of Washington

Several large investors have recently modified their holdings of EXPD. Elyxium Wealth LLC acquired a new stake in shares of Expeditors International of Washington during the fourth quarter worth about $28,000. DV Equities LLC acquired a new position in shares of Expeditors International of Washington in the 4th quarter valued at approximately $28,000. Nalls Sherbakoff Group LLC bought a new stake in Expeditors International of Washington during the 4th quarter worth approximately $30,000. Bard Associates Inc. bought a new stake in Expeditors International of Washington during the 4th quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. raised its holdings in Expeditors International of Washington by 132.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company’s stock worth $34,000 after buying an additional 131 shares during the period. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Stock Performance

The firm’s fifty day simple moving average is $162.75 and its 200 day simple moving average is $154.91. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the firm earned $1.47 earnings per share. Expeditors International of Washington’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.81 dividend. This represents a yield of 101.0%. The ex-dividend date of this dividend was Monday, June 1st. Expeditors International of Washington’s payout ratio is currently 26.21%.

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.