Expeditors International of Washington, Inc. (NASDAQ:EXPD) Short Interest Up 5.5% in September

Posted by MarketBeat News on Oct 4th, 2023

Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 7,290,000 shares, an increase of 5.5% from the August 31st total of 6,910,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 935,600 shares, the short-interest ratio is currently 7.8 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EXPD. JPMorgan Chase & Co. assumed coverage on Expeditors International of Washington in a research note on Friday, August 11th. They set an “underweight” rating and a $110.00 price target on the stock. Stifel Nicolaus upped their target price on Expeditors International of Washington from $99.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, July 19th. Susquehanna lifted their price target on shares of Expeditors International of Washington from $104.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Stephens increased their price objective on shares of Expeditors International of Washington from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. Finally, StockNews.com assumed coverage on shares of Expeditors International of Washington in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $106.09.

View Our Latest Analysis on Expeditors International of Washington

Institutional Inflows and Outflows

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Several hedge funds and other institutional investors have recently made changes to their positions in EXPD. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Expeditors International of Washington by 100,489.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,525,644 shares of the transportation company’s stock valued at $427,061,000 after buying an additional 3,522,139 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Expeditors International of Washington by 548.0% during the first quarter. Envestnet Asset Management Inc. now owns 2,539,948 shares of the transportation company’s stock worth $44,987,000 after acquiring an additional 2,147,954 shares during the period. Norges Bank bought a new stake in Expeditors International of Washington in the 4th quarter valued at $133,106,000. Renaissance Technologies LLC boosted its stake in Expeditors International of Washington by 1,025.5% in the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock worth $102,192,000 after purchasing an additional 902,600 shares during the period. Finally, Select Equity Group L.P. increased its holdings in Expeditors International of Washington by 388.0% during the 4th quarter. Select Equity Group L.P. now owns 670,172 shares of the transportation company’s stock worth $69,644,000 after purchasing an additional 532,835 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $113.91 on Wednesday. The stock’s 50 day simple moving average is $117.52 and its 200 day simple moving average is $115.53. Expeditors International of Washington has a one year low of $86.12 and a one year high of $128.04. The firm has a market cap of $16.85 billion, a PE ratio of 17.08 and a beta of 1.01.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). Expeditors International of Washington had a return on equity of 34.31% and a net margin of 8.36%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. Expeditors International of Washington’s revenue for the quarter was down 51.3% compared to the same quarter last year. As a group, equities analysts expect that Expeditors International of Washington will post 5.36 earnings per share for the current year.

Expeditors International of Washington Company Profile

(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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