Expeditors International of Washington (NASDAQ:EXPD) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $192.39 and traded as high as $194.68. Expeditors International of Washington shares last traded at $194.5210, with a volume of 1,114,215 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EXPD. Bank of America raised their price objective on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. TD Cowen boosted their target price on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a “sell” rating in a research note on Wednesday, August 5th. Robert W. Baird increased their target price on Expeditors International of Washington from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 1st. BNP Paribas Exane started coverage on Expeditors International of Washington in a report on Wednesday, September 30th. They issued a “neutral” rating and a $180.00 target price on the stock. Finally, Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Expeditors International of Washington presently has a consensus rating of “Hold” and an average target price of $181.27.

Expeditors International of Washington Stock Down 0.3%

The stock has a fifty day moving average of $192.73 and a 200-day moving average of $168.70. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 5.00 and a beta of 1.08.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.22 by $0.43. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period last year, the company earned $1.64 EPS. Expeditors International of Washington’s revenue was up 41.9% on a year-over-year basis. On average, equities analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.81 dividend. The ex-dividend date is Tuesday, December 1st. This represents a dividend yield of 79.0%. Expeditors International of Washington’s dividend payout ratio is presently 20.56%.

Institutional Investors Weigh In On Expeditors International of Washington

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in shares of Expeditors International of Washington by 66.7% in the 3rd quarter. Empowered Funds LLC now owns 37,895 shares of the transportation company’s stock valued at $6,997,000 after purchasing an additional 15,169 shares during the period. Roberts Glore & Co. Inc. IL increased its position in Expeditors International of Washington by 0.7% during the third quarter. Roberts Glore & Co. Inc. IL now owns 25,145 shares of the transportation company’s stock worth $4,643,000 after buying an additional 168 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Expeditors International of Washington by 1,821.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 157,113 shares of the transportation company’s stock worth $29,009,000 after buying an additional 148,936 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Expeditors International of Washington by 108.6% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,344 shares of the transportation company’s stock valued at $617,000 after buying an additional 1,741 shares during the last quarter. Finally, Hartree Partners LP purchased a new stake in Expeditors International of Washington in the third quarter valued at approximately $739,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global, non-asset-based logistics company that helps businesses move goods and manage supply chains. Founded in Seattle in 1979, the company arranges transportation and related services through its worldwide network. Its services include air and ocean freight forwarding, customs brokerage, cargo insurance, warehousing and distribution, and order and supply chain management. Expeditors coordinates shipments with carriers and other service providers rather than operating as a traditional transportation company.