Expeditors International of Washington (NASDAQ:EXPD) Given New $120.00 Price Target at Bank of America

Expeditors International of Washington (NASDAQ:EXPD) had its price target decreased by research analysts at Bank of America from $129.00 to $120.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target suggests a potential upside of 7.81% from the stock’s current price.

EXPD has been the subject of several other reports. TD Cowen boosted their price objective on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Barclays boosted their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Finally, Wolfe Research downgraded Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.11.

Expeditors International of Washington Trading Down 0.1 %

EXPD traded down $0.14 during trading on Thursday, hitting $111.31. 300,209 shares of the company’s stock traded hands, compared to its average volume of 1,009,636. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.18 and a beta of 0.99. The company’s 50 day simple moving average is $116.43 and its two-hundred day simple moving average is $120.10. Expeditors International of Washington has a 12-month low of $108.36 and a 12-month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.30. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The company’s quarterly revenue was up 37.0% on a year-over-year basis. On average, equities analysts expect that Expeditors International of Washington will post 5.47 EPS for the current year.

Insider Transactions at Expeditors International of Washington

In other news, Director Robert Paul Carlile sold 3,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total value of $363,330.00. Following the completion of the sale, the director now directly owns 9,662 shares of the company’s stock, valued at $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EXPD. Avanza Fonder AB purchased a new position in shares of Expeditors International of Washington in the fourth quarter valued at about $1,717,000. Gateway Investment Advisers LLC raised its stake in Expeditors International of Washington by 19.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 11,051 shares of the transportation company’s stock valued at $1,224,000 after purchasing an additional 1,832 shares during the period. Park Avenue Securities LLC lifted its holdings in Expeditors International of Washington by 14.9% in the 4th quarter. Park Avenue Securities LLC now owns 2,885 shares of the transportation company’s stock worth $320,000 after purchasing an additional 374 shares in the last quarter. Oak Thistle LLC bought a new position in Expeditors International of Washington in the 4th quarter worth approximately $534,000. Finally, Czech National Bank raised its position in shares of Expeditors International of Washington by 5.6% during the fourth quarter. Czech National Bank now owns 30,350 shares of the transportation company’s stock valued at $3,362,000 after buying an additional 1,601 shares during the last quarter. Institutional investors 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.