Expeditors International of Washington (NASDAQ:EXPD) Cut to Sell at TD Cowen

TD Cowen cut shares of Expeditors International of Washington (NASDAQ:EXPD) from a hold rating to a sell rating in a research report report published on Monday morning, Marketbeat.com reports. TD Cowen currently has $106.00 target price on the transportation company’s stock, down from their prior target price of $112.00.

EXPD has been the subject of several other reports. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and raised their price target for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Robert W. Baird raised their target price on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Finally, Bank of America raised their target price on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Expeditors International of Washington presently has a consensus rating of “Hold” and a consensus target price of $115.33.

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $121.77 on Monday. The company has a market capitalization of $17.20 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 5.51 and a beta of 0.97. The company’s 50 day moving average price is $122.76 and its two-hundred day moving average price is $120.99. Expeditors International of Washington has a 52 week low of $107.03 and a 52 week high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.02). The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.28 billion. Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. Expeditors International of Washington’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. Analysts forecast that Expeditors International of Washington will post 5.01 earnings per share for the current year.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXPD. Crewe Advisors LLC bought a new position in Expeditors International of Washington during the first quarter worth $25,000. Innealta Capital LLC bought a new position in Expeditors International of Washington during the second quarter worth $31,000. Family Firm Inc. bought a new position in Expeditors International of Washington during the second quarter worth $35,000. ORG Partners LLC boosted its position in Expeditors International of Washington by 752.0% during the first quarter. ORG Partners LLC now owns 426 shares of the transportation company’s stock worth $51,000 after purchasing an additional 376 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Expeditors International of Washington during the second quarter worth $52,000. 94.02% of the stock is owned by institutional investors.

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.