Expeditors International of Washington (EXPD) Rating Increased to Buy at Zacks Investment Research

Expeditors International of Washington (NASDAQ:EXPD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $74.00 price target on the transportation company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.45% from the company’s previous close.

According to Zacks, “Shares of Expeditors have outperformed its industry over the past year. The company has been benefitting from volume growth across all its primary divisions. Its efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. The company's sound balance sheet is also encouraging. Its asset-light business model allows it to maintain a debt-free balance sheet. The positive sentiment surrounding the stock can be gauged from the fact that the Zacks Consensus Estimate for fourth-quarter earnings has been revised 3.2% upward over the last 90 days. However, high operating expenses are a cause of concern for Expeditors.  High operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. “

Several other research firms have also recently commented on EXPD. Credit Suisse Group boosted their price target on shares of Expeditors International of Washington from $56.00 to $63.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th. Stifel Nicolaus restated a “hold” rating and set a $68.00 price target on shares of Expeditors International of Washington in a report on Thursday. Barclays restated a “buy” rating and set a $70.00 price target on shares of Expeditors International of Washington in a report on Tuesday, January 9th. BidaskClub cut shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Finally, Cowen boosted their price target on shares of Expeditors International of Washington from $54.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Expeditors International of Washington currently has a consensus rating of “Hold” and a consensus target price of $63.88.

Shares of Expeditors International of Washington (EXPD) opened at $66.40 on Friday. Expeditors International of Washington has a one year low of $51.57 and a one year high of $66.83. The stock has a market cap of $11,744.38, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, November 7th. The transportation company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.06. Expeditors International of Washington had a net margin of 6.50% and a return on equity of 22.32%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $0.59 EPS. The company’s revenue was up 15.3% on a year-over-year basis. equities research analysts anticipate that Expeditors International of Washington will post 2.41 EPS for the current year.

In related news, insider Eugene K. Alger sold 10,269 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $60.40, for a total value of $620,247.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.78% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. boosted its holdings in Expeditors International of Washington by 0.7% in the second quarter. First Allied Advisory Services Inc. now owns 13,299 shares of the transportation company’s stock worth $752,000 after purchasing an additional 97 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in Expeditors International of Washington by 1.0% in the second quarter. Sentry Investment Management LLC now owns 11,578 shares of the transportation company’s stock worth $654,000 after purchasing an additional 116 shares in the last quarter. Thrivent Financial For Lutherans boosted its holdings in Expeditors International of Washington by 5.9% in the second quarter. Thrivent Financial For Lutherans now owns 7,274 shares of the transportation company’s stock worth $411,000 after purchasing an additional 404 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Expeditors International of Washington by 0.5% in the second quarter. HighTower Advisors LLC now owns 82,228 shares of the transportation company’s stock worth $4,663,000 after purchasing an additional 416 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Expeditors International of Washington by 4.5% in the second quarter. Nordea Investment Management AB now owns 13,937 shares of the transportation company’s stock worth $787,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 93.65% of the company’s stock.

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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.

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