Expeditors International of Washington (NASDAQ:EXPD) Sets New 52-Week High – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $168.17 and last traded at $167.59, with a volume of 532898 shares traded. The stock had previously closed at $164.71.

Analyst Ratings Changes

A number of analysts have weighed in on EXPD shares. Susquehanna increased their target price on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Wolfe Research upgraded shares of Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. upped their target price on Expeditors International of Washington from $135.00 to $139.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial dropped their price target on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $137.30.

Expeditors International of Washington Trading Up 1.6%

The company’s 50-day moving average is $152.69 and its two-hundred day moving average is $151.79. The stock has a market capitalization of $21.88 billion, a P/E ratio of 29.25, a P/E/G ratio of 5.00 and a beta of 1.05.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 EPS 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%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.47 EPS. Sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

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

Hedge Funds Weigh In On Expeditors International of Washington

Several hedge funds have recently modified their holdings of EXPD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock valued at $231,432,000 after buying an additional 1,661,457 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Expeditors International of Washington in the 4th quarter valued at about $201,164,000. Norges Bank acquired a new stake in Expeditors International of Washington in the 4th quarter valued at about $180,719,000. Balyasny Asset Management L.P. bought a new position in shares of Expeditors International of Washington during the 3rd quarter valued at about $113,194,000. Finally, Wellington Management Group LLP grew its stake in shares of Expeditors International of Washington by 64.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock worth $235,486,000 after purchasing an additional 749,993 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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.