JPMorgan Chase & Co. Issues Positive Forecast for Expeditors International of Washington (NASDAQ:EXPD) Stock Price

Expeditors International of Washington (NASDAQ:EXPD) had its price objective upped by JPMorgan Chase & Co. from $214.00 to $220.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial raised their target price on shares of Expeditors International of Washington from $175.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays boosted their target price on shares of Expeditors International of Washington from $165.00 to $175.00 and gave the company an “underweight” rating in a research note on Wednesday. UBS Group increased their price target on Expeditors International of Washington from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Bank of America increased their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird raised their price target on Expeditors International of Washington from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Expeditors International of Washington currently has an average rating of “Hold” and a consensus target price of $181.27.

Expeditors International of Washington Stock Down 3.5%

Shares of NASDAQ EXPD opened at $197.09 on Wednesday. The firm’s 50-day moving average price is $192.46 and its 200-day moving average price is $167.63. Expeditors International of Washington has a 52-week low of $129.59 and a 52-week high of $207.93. The company has a market cap of $25.62 billion, a PE ratio of 34.46, a PEG ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, November 3rd. The transportation company reported $2.65 earnings per share 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 quarter in the previous year, the business earned $1.64 earnings per share. Expeditors International of Washington’s quarterly revenue was up 41.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Expeditors International of Washington will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.81 per share. This represents a yield of 79.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Expeditors International of Washington’s payout ratio is currently 23.58%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXPD. Lido Advisors LLC grew its stake in shares of Expeditors International of Washington by 20.2% during the 3rd quarter. Lido Advisors LLC now owns 10,811 shares of the transportation company’s stock valued at $1,996,000 after acquiring an additional 1,820 shares during the period. 71 West Capital Partners purchased a new stake in Expeditors International of Washington in the 3rd quarter worth approximately $209,000. Leuthold Group LLC raised its stake in Expeditors International of Washington by 9.5% during the 3rd quarter. Leuthold Group LLC now owns 34,866 shares of the transportation company’s stock worth $6,438,000 after acquiring an additional 3,014 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Expeditors International of Washington by 15.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,844 shares of the transportation company’s stock worth $1,473,000 after acquiring an additional 1,026 shares during the period. Finally, Brighton Jones LLC raised its stake in Expeditors International of Washington by 7.1% during the 3rd quarter. Brighton Jones LLC now owns 1,574 shares of the transportation company’s stock worth $291,000 after acquiring an additional 105 shares during the period. Institutional investors own 94.02% of the company’s stock.

Key Stories Impacting Expeditors International of Washington

Here are the key news stories impacting Expeditors International of Washington this week:

• Positive Sentiment: Strong Q3 results: EPS rose 62% year over year to $2.65, beating the roughly $2.22 consensus, while revenue increased 42% to $4.1 billion. Higher airfreight tonnage, recovering ocean volumes and customs activity supported results. Expeditors Q3 results
• Positive Sentiment: UBS raised its target: UBS lifted its price target to $245 from $220 and reiterated a Buy rating, signaling substantial upside in its view. UBS price target update
• Positive Sentiment: Dividend declared: Expeditors announced a semi-annual cash dividend of $0.81 per share, payable December 15 to shareholders of record December 1. Dividend announcement
• Neutral Sentiment: Other analyst updates were mixed: JPMorgan raised its target to $220 but kept a Neutral rating; Truist raised its target to $200 and maintained Hold. JPMorgan target update
• Negative Sentiment: Bearish view remains: Barclays raised its target to $175 from $165 but kept an Underweight rating; that target remains below the stock’s recent level. Investors may also be weighing valuation after the strong results. Barclays rating

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.