Expeditors International of Washington (NASDAQ:EXPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Shares of Expeditors have outperformed its industry over the last six months. Ushering in further good news, the company reported better-than-expected earnings and revenues in the second quarter. Moreover, both metrics improved year over year. Growth was witnessed across all major divisions of the company. We are impressed by Expeditors' efforts to reward shareholders through dividend payments and buybacks. However, Expeditors' rising operating expenses are concerning and might hurt the bottom line going forward. Operating expenses rose 18% year-over-year in the second quarter. The challenging conditions in the airfreight services market due to overcapacity woes also raise concerns. “

EXPD has been the subject of a number of other reports. Stifel Nicolaus set a $73.00 price target on Expeditors International of Washington and gave the stock a “hold” rating in a research report on Wednesday. BidaskClub upgraded Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Credit Suisse Group lowered their price target on Expeditors International of Washington from $67.00 to $65.00 and set an “underperform” rating for the company in a research report on Wednesday. Cowen restated a “market perform” rating and issued a $73.00 price target (up from $70.00) on shares of Expeditors International of Washington in a research report on Tuesday, August 7th. Finally, Robert W. Baird raised their price target on Expeditors International of Washington from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $67.00.

Shares of NASDAQ EXPD traded down $0.17 during midday trading on Friday, reaching $73.08. 1,408,292 shares of the stock traded hands, compared to its average volume of 1,364,946. The company has a market capitalization of $12.77 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.90 and a beta of 0.70. Expeditors International of Washington has a one year low of $54.32 and a one year high of $78.16.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, August 7th. The transportation company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Expeditors International of Washington had a return on equity of 26.73% and a net margin of 7.50%. equities analysts expect that Expeditors International of Washington will post 3.16 EPS for the current fiscal year.

In other news, VP Christopher J. Mcclincy sold 2,437 shares of Expeditors International of Washington stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $72.11, for a total transaction of $175,732.07. Following the completion of the sale, the vice president now directly owns 16,754 shares in the company, valued at $1,208,130.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eugene K. Alger sold 6,956 shares of Expeditors International of Washington stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $71.89, for a total value of $500,066.84. Following the sale, the insider now owns 5,476 shares of the company’s stock, valued at $393,669.64. The disclosure for this sale can be found here. 0.99% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. IBM Retirement Fund bought a new stake in shares of Expeditors International of Washington during the first quarter worth $247,000. Exane Derivatives bought a new stake in shares of Expeditors International of Washington during the second quarter worth $1,186,000. Select Equity Group L.P. lifted its position in shares of Expeditors International of Washington by 41.6% during the first quarter. Select Equity Group L.P. now owns 4,368,957 shares of the transportation company’s stock worth $276,555,000 after purchasing an additional 1,283,685 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Expeditors International of Washington by 0.4% during the first quarter. Loomis Sayles & Co. L P now owns 15,626,749 shares of the transportation company’s stock worth $989,173,000 after purchasing an additional 64,424 shares during the last quarter. Finally, BB&T Securities LLC lifted its position in shares of Expeditors International of Washington by 93.8% during the first quarter. BB&T Securities LLC now owns 83,997 shares of the transportation company’s stock worth $5,316,000 after purchasing an additional 40,651 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

About Expeditors International of Washington

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.

Featured Story: How are Outstanding Shares Different from Authorized Shares?

Get a free copy of the Zacks research report on Expeditors International of Washington (EXPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

Receive News & Ratings for Expeditors International of Washington Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington and related companies with MarketBeat.com's FREE daily email newsletter.