Expeditors International of Washington (NASDAQ:EXPD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $70.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.94% from the stock’s current price.

According to Zacks, “Shares of Expeditors have outperformed its industry over the past year. The stock rallied 13% while its industry lost 0.8% in the period. The company has been benefitting from volume growth across all its primary divisions. Its efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. The company's sound balance sheet is also encouraging. Its asset-light business model allows it to maintain a debt-free balance sheet. However, high operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. Detailed results will be out on Feb 20. “

Several other brokerages have also commented on EXPD. BidaskClub lowered shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. UBS Group lifted their price target on shares of Expeditors International of Washington from $48.00 to $56.00 and gave the stock a “sell” rating in a research note on Wednesday, November 8th. Goldman Sachs Group started coverage on shares of Expeditors International of Washington in a research note on Monday, November 13th. They set a “neutral” rating and a $59.00 price target on the stock. Credit Suisse Group lifted their price target on shares of Expeditors International of Washington from $56.00 to $63.00 and gave the stock an “underperform” rating in a research note on Tuesday, January 16th. Finally, Cowen lifted their price target on shares of Expeditors International of Washington from $54.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Expeditors International of Washington has a consensus rating of “Hold” and an average price target of $63.38.

Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at $63.67 on Tuesday. Expeditors International of Washington has a fifty-two week low of $51.96 and a fifty-two week high of $67.54. The firm has a market cap of $11,216.60, a price-to-earnings ratio of 26.41, a PEG ratio of 2.87 and a beta of 0.64.

In related news, insider Eugene K. Alger sold 10,269 shares of Expeditors International of Washington stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $60.40, for a total transaction of $620,247.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Sentry Investment Management LLC grew its position in Expeditors International of Washington by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 11,578 shares of the transportation company’s stock worth $654,000 after purchasing an additional 116 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Expeditors International of Washington by 5.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,274 shares of the transportation company’s stock worth $411,000 after purchasing an additional 404 shares during the last quarter. BTIM Corp. grew its position in Expeditors International of Washington by 0.5% during the 4th quarter. BTIM Corp. now owns 141,526 shares of the transportation company’s stock worth $9,156,000 after purchasing an additional 762 shares during the last quarter. JLB & Associates Inc. grew its position in Expeditors International of Washington by 2.1% during the 4th quarter. JLB & Associates Inc. now owns 42,572 shares of the transportation company’s stock worth $2,753,000 after purchasing an additional 861 shares during the last quarter. Finally, QS Investors LLC grew its position in Expeditors International of Washington by 10.9% during the 2nd quarter. QS Investors LLC now owns 9,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 896 shares during the last quarter. 93.26% of the stock is currently owned by institutional investors.

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Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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

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