Expeditors International of Washington, Inc. (NASDAQ:EXPD) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) have been assigned an average recommendation of “Reduce” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $114.7778.

Several research firms have weighed in on EXPD. Bank of America cut Expeditors International of Washington from a “neutral” rating to an “underperform” rating and raised their price target for the company from $117.00 to $118.00 in a report on Friday, July 11th. Baird R W upgraded Expeditors International of Washington to a “hold” rating in a research report on Tuesday, July 1st. Truist Financial increased their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on Expeditors International of Washington from $105.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. Finally, Barclays increased their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, September 11th.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the transaction, the vice president directly owned 7,651 shares in the company, valued at approximately $903,200.55. This represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Expeditors International of Washington

Several institutional investors and hedge funds have recently bought and sold shares of EXPD. Norges Bank bought a new position in Expeditors International of Washington during the 2nd quarter worth approximately $111,222,000. First Eagle Investment Management LLC grew its position in shares of Expeditors International of Washington by 17.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,279,825 shares of the transportation company’s stock worth $717,470,000 after buying an additional 918,108 shares during the last quarter. Invesco Ltd. increased its stake in shares of Expeditors International of Washington by 23.4% during the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company’s stock valued at $365,548,000 after buying an additional 576,468 shares during the period. GAMMA Investing LLC increased its stake in shares of Expeditors International of Washington by 13,910.4% during the first quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company’s stock valued at $61,021,000 after buying an additional 503,833 shares during the period. Finally, Boston Partners lifted its stake in Expeditors International of Washington by 13.1% in the first quarter. Boston Partners now owns 4,295,924 shares of the transportation company’s stock worth $516,385,000 after acquiring an additional 498,212 shares during the period. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Stock Up 1.3%

NASDAQ:EXPD opened at $123.16 on Friday. The business’s 50-day moving average price is $120.17 and its two-hundred day moving average price is $115.61. Expeditors International of Washington has a twelve month low of $100.47 and a twelve month high of $129.15. The stock has a market cap of $16.71 billion, a P/E ratio of 21.53, a PEG ratio of 5.00 and a beta of 1.06.

Expeditors International of Washington Company Profile

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.