Expeditors International of Washington (NASDAQ:EXPD) Hits New 52-Week High – Still a Buy?

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

Analyst Ratings Changes

EXPD has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Expeditors International of Washington from $200.00 to $214.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Stephens raised Expeditors International of Washington to a “strong-buy” rating in a research report on Wednesday, July 8th. Bank of America raised their price objective on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. BNP Paribas Exane began coverage on Expeditors International of Washington in a report on Wednesday, September 30th. They issued a “neutral” rating and a $180.00 price objective for the company. Finally, Zacks Research downgraded Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. 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 an average price target of $175.27.

Expeditors International of Washington Stock Up 0.8%

The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 5.00 and a beta of 1.07. The business’s 50 day simple moving average is $190.02 and its 200-day simple moving average is $171.40.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Expeditors International of Washington during the second quarter worth $2,193,093,000. State Street Corp lifted its stake in shares of Expeditors International of Washington by 1.5% in the 2nd quarter. State Street Corp now owns 7,335,241 shares of the transportation company’s stock valued at $1,195,498,000 after acquiring an additional 109,798 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Expeditors International of Washington by 0.8% in the 2nd quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company’s stock valued at $421,456,000 after acquiring an additional 21,400 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Expeditors International of Washington by 2.7% during the 2nd quarter. Baird Financial Group Inc. now owns 2,239,665 shares of the transportation company’s stock valued at $365,021,000 after acquiring an additional 57,823 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Expeditors International of Washington by 10.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company’s stock valued at $351,273,000 after acquiring an additional 195,351 shares in the last quarter. 94.02% of the stock is owned by institutional investors.

About Expeditors International of Washington

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.