Expeditors International of Washington (NASDAQ:EXPD) Trading Down 7.2% – Here’s Why

Expeditors International of Washington, Inc. (NASDAQ:EXPD) shares traded down 7.2% during mid-day trading on Thursday . The company traded as low as $149.00 and last traded at $150.1920. 744,356 shares were traded during trading, a decline of 46% from the average session volume of 1,380,504 shares. The stock had previously closed at $161.89.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EXPD shares. TD Cowen boosted their target price on shares of Expeditors International of Washington from $111.00 to $131.00 and gave the stock a “sell” rating in a report on Wednesday, November 5th. Barclays lifted their price target on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. dropped their price objective on shares of Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Stifel Nicolaus raised their price objective on Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Finally, Morgan Stanley lifted their target price on Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $134.10.

Expeditors International of Washington Stock Performance

The business’s fifty day moving average price is $156.52 and its two-hundred day moving average price is $136.11. The stock has a market capitalization of $18.83 billion, a P/E ratio of 24.56, a P/E/G ratio of 5.00 and a beta of 1.13.

Institutional Investors Weigh In On Expeditors International of Washington

Several institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its holdings in shares of Expeditors International of Washington by 14.0% during the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after acquiring an additional 69,290 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Expeditors International of Washington by 6.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock worth $121,817,000 after purchasing an additional 62,500 shares in the last quarter. Ascent Group LLC grew its position in Expeditors International of Washington by 237.3% during the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock worth $1,265,000 after purchasing an additional 7,257 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Expeditors International of Washington during the 3rd quarter valued at approximately $464,000. Finally, Nordea Investment Management AB increased its stake in Expeditors International of Washington by 7.4% during the 3rd quarter. Nordea Investment Management AB now owns 648,101 shares of the transportation company’s stock valued at $78,867,000 after purchasing an additional 44,849 shares in the last quarter. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.