Expeditors International of Washington (NASDAQ:EXPD) Downgraded to “Strong Sell” at Wolfe Research

Expeditors International of Washington (NASDAQ:EXPD) was downgraded by analysts at Wolfe Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks.com reports.

Several other brokerages also recently weighed in on EXPD. Bank of America increased their target price on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. UBS Group upgraded shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their target price for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Robert W. Baird increased their target price on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.00.

Expeditors International of Washington Stock Up 0.0 %

NASDAQ:EXPD opened at $121.30 on Wednesday. The stock’s fifty day moving average is $122.55 and its two-hundred day moving average is $120.95. Expeditors International of Washington has a 52 week low of $107.03 and a 52 week high of $131.59. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 5.71 and a beta of 0.97.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, August 6th. The transportation company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.02). Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the company earned $1.30 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Expeditors International of Washington will post 5.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Expeditors International of Washington

Several hedge funds have recently modified their holdings of EXPD. D. E. Shaw & Co. Inc. grew its holdings in shares of Expeditors International of Washington by 581.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 409,398 shares of the transportation company’s stock worth $51,089,000 after acquiring an additional 349,362 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Expeditors International of Washington by 26.3% in the 1st quarter. TD Asset Management Inc now owns 1,094,976 shares of the transportation company’s stock worth $133,116,000 after acquiring an additional 227,816 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Expeditors International of Washington by 16.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company’s stock worth $197,538,000 after acquiring an additional 227,671 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Expeditors International of Washington in the 1st quarter worth $23,178,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Expeditors International of Washington by 4,581.9% in the 2nd quarter. Squarepoint Ops LLC now owns 184,606 shares of the transportation company’s stock worth $23,037,000 after acquiring an additional 180,663 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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.