Expeditors International of Washington, Inc. (EXPD) Stock Rating Upgraded by Zacks Investment Research

Expeditors International of Washington, Inc. (NASDAQ:EXPD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $68.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.62% from the company’s previous close.

According to Zacks, “Shares of Expeditors have outperformed its industry on a year-to-date basis. The company reported better-than-expected earnings and revenues in the third quarter. Growth was witnessed across all major divisions of the company. Moreover, volumes improved across all its primary divisions. The company's efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. Expeditors' sound balance sheet is also encouraging. Its asset-light business model allows it to maintain a debt-free balance sheet. However, high operating expenses are a cause of concern for Expeditors. Operating expenses in the third quarter rose 15.8% year-over-year.”

A number of other analysts have also issued reports on the company. BidaskClub upgraded Expeditors International of Washington from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Barclays PLC boosted their price objective on Expeditors International of Washington from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, October 2nd. Cowen and Company reiterated a “market perform” rating and set a $54.00 price objective (down from $55.00) on shares of Expeditors International of Washington in a research note on Thursday, August 10th. UBS AG boosted their price objective on Expeditors International of Washington from $48.00 to $56.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, Credit Suisse Group boosted their price objective on Expeditors International of Washington from $51.00 to $56.00 and gave the company an “underperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $59.43.

Shares of Expeditors International of Washington (NASDAQ EXPD) traded down $0.02 on Thursday, hitting $59.85. The company’s stock had a trading volume of 1,024,900 shares, compared to its average volume of 1,038,262. The company has a market capitalization of $10,635.52, a price-to-earnings ratio of 25.04, a PEG ratio of 3.13 and a beta of 0.68. Expeditors International of Washington has a 52-week low of $50.20 and a 52-week high of $62.63.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, November 7th. The transportation company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.06. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.72 billion. Expeditors International of Washington had a return on equity of 22.32% and a net margin of 6.50%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. equities analysts forecast that Expeditors International of Washington will post 2.39 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in EXPD. Canada Pension Plan Investment Board increased its stake in Expeditors International of Washington by 10,555.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock worth $115,000 after acquiring an additional 1,900 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in Expeditors International of Washington by 3.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 2,536 shares of the transportation company’s stock worth $143,000 after acquiring an additional 93 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Expeditors International of Washington by 22.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,605 shares of the transportation company’s stock worth $147,000 after acquiring an additional 471 shares during the last quarter. Merriman Wealth Management LLC bought a new position in Expeditors International of Washington in the 3rd quarter worth about $208,000. Finally, Barings LLC bought a new position in Expeditors International of Washington in the 1st quarter worth about $210,000. Institutional investors and hedge funds own 93.80% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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

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