Expeditors International of Washington (EXPD) Downgraded to “Sell” at Goldman Sachs Group
Goldman Sachs Group cut shares of Expeditors International of Washington (NASDAQ:EXPD) from a neutral rating to a sell rating in a report published on Friday, MarketBeat reports. The firm currently has $68.00 price target on the transportation company’s stock.
EXPD has been the topic of several other research reports. BidaskClub upgraded Expeditors International of Washington from a hold rating to a buy rating in a research note on Tuesday, November 27th. Zacks Investment Research upgraded Expeditors International of Washington from a hold rating to a buy rating and set a $82.00 price target on the stock in a research note on Tuesday, November 13th. Finally, Deutsche Bank initiated coverage on Expeditors International of Washington in a research report on Tuesday, September 4th. They issued a hold rating and a $71.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $69.40.
Shares of Expeditors International of Washington stock traded down $3.73 during midday trading on Friday, hitting $70.57. The company had a trading volume of 2,126,781 shares, compared to its average volume of 1,216,618. The company has a market capitalization of $12.82 billion, a P/E ratio of 28.46, a PEG ratio of 2.85 and a beta of 0.79. Expeditors International of Washington has a 52-week low of $59.10 and a 52-week high of $78.16.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.45 dividend. The ex-dividend date is Friday, November 30th. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.42. This represents a yield of 1.23%. Expeditors International of Washington’s dividend payout ratio is 36.29%.
In other news, Director Mark A. Emmert sold 5,000 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $73.52, for a total transaction of $367,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher J. Mcclincy sold 2,371 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $73.67, for a total value of $174,671.57. The disclosure for this sale can be found here. Insiders sold a total of 37,371 shares of company stock worth $2,820,772 over the last ninety days. 0.99% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its holdings in shares of Expeditors International of Washington by 51.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,337 shares of the transportation company’s stock valued at $98,000 after buying an additional 456 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Expeditors International of Washington during the 2nd quarter valued at $113,000. Fort L.P. bought a new position in shares of Expeditors International of Washington during the 2nd quarter valued at $118,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Expeditors International of Washington by 104.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,072 shares of the transportation company’s stock valued at $152,000 after buying an additional 1,061 shares during the period. Finally, MainStreet Investment Advisors LLC bought a new position in shares of Expeditors International of Washington during the 3rd quarter valued at $198,000. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
Expeditors International of Washington Company Profile
Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.
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