Expeditors International of Washington (NASDAQ:EXPD) Hits New 1-Year High at $128.05

Posted by Defense World Staff on Aug 2nd, 2023

Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $128.05 and last traded at $127.06, with a volume of 83380 shares trading hands. The stock had previously closed at $127.24.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EXPD. Morgan Stanley dropped their price objective on shares of Expeditors International of Washington from $85.00 to $84.00 in a research note on Thursday, July 6th. StockNews.com began coverage on shares of Expeditors International of Washington in a research note on Thursday, May 18th. They set a “hold” rating for the company. Stifel Nicolaus boosted their price objective on shares of Expeditors International of Washington from $99.00 to $115.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. Finally, Barclays raised their price objective on Expeditors International of Washington from $90.00 to $95.00 in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $102.33.

Expeditors International of Washington Stock Down 1.4 %

The company has a market cap of $19.17 billion, a PE ratio of 16.42 and a beta of 1.00. The firm has a 50 day simple moving average of $119.24 and a 200-day simple moving average of $113.26.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The transportation company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.12. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.91 billion. Expeditors International of Washington had a net margin of 8.25% and a return on equity of 37.24%. The company’s quarterly revenue was down 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, equities analysts anticipate that Expeditors International of Washington, Inc. will post 5.51 EPS for the current year.

Insider Activity

In related news, SVP Benjamin G. Clark sold 1,290 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $117.85, for a total transaction of $152,026.50. Following the transaction, the senior vice president now directly owns 16,351 shares in the company, valued at approximately $1,926,965.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Benjamin G. Clark sold 1,290 shares of Expeditors International of Washington stock in a transaction on Friday, May 5th. The shares were sold at an average price of $117.85, for a total transaction of $152,026.50. Following the completion of the sale, the senior vice president now directly owns 16,351 shares in the company, valued at $1,926,965.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey F. Dickerman sold 1,608 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $117.89, for a total value of $189,567.12. Following the completion of the transaction, the vice president now directly owns 5,484 shares in the company, valued at $646,508.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,077 shares of company stock worth $5,117,562. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Expeditors International of Washington

A number of institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Expeditors International of Washington by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,667 shares of the transportation company’s stock worth $2,338,000 after buying an additional 1,404 shares during the last quarter. Sei Investments Co. grew its stake in shares of Expeditors International of Washington by 6.7% during the 1st quarter. Sei Investments Co. now owns 133,626 shares of the transportation company’s stock worth $13,801,000 after purchasing an additional 8,438 shares during the period. National Pension Service increased its holdings in shares of Expeditors International of Washington by 4.9% during the 1st quarter. National Pension Service now owns 288,713 shares of the transportation company’s stock valued at $29,784,000 after purchasing an additional 13,608 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Expeditors International of Washington by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 19,675,632 shares of the transportation company’s stock valued at $2,029,739,000 after purchasing an additional 190,319 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in Expeditors International of Washington by 234.3% during the first quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock worth $59,000 after buying an additional 403 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

About Expeditors International of Washington

(Get Free Report)

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

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