Wolfe Research Downgrades Expeditors International of Washington (NASDAQ:EXPD) to Strong Sell

Wolfe Research downgraded shares of Expeditors International of Washington (NASDAQ:EXPD) from a hold rating to a strong sell rating in a report released on Wednesday, Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. UBS Group upgraded Expeditors International of Washington from a sell rating to a neutral rating and upped their price objective for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Bank of America upped their price objective on 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. Benchmark reiterated a hold rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Finally, Robert W. Baird upped their price objective on 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. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $116.00.

Expeditors International of Washington Stock Up 1.4 %

Shares of Expeditors International of Washington stock opened at $123.02 on Wednesday. The stock has a market capitalization of $17.36 billion, a P/E ratio of 26.40, a PEG ratio of 5.51 and a beta of 0.97. The stock has a 50 day moving average price of $122.55 and a two-hundred day moving average price of $120.98. Expeditors International of Washington has a 12-month low of $107.03 and a 12-month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, August 6th. The transportation company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Expeditors International of Washington will post 5.01 earnings per share for the current year.

Institutional Trading of Expeditors International of Washington

A number of hedge funds have recently bought and sold shares of EXPD. Crewe Advisors LLC purchased a new position in Expeditors International of Washington in the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Expeditors International of Washington in the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in Expeditors International of Washington during the 2nd quarter worth approximately $35,000. ORG Partners LLC increased 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 buying an additional 376 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Expeditors International of Washington in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

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.