StockNews.com Begins Coverage on Expeditors International of Washington (NASDAQ:EXPD)

StockNews.com started coverage on shares of Expeditors International of Washington (NASDAQ:EXPD – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on EXPD. Cowen cut their price objective on shares of Expeditors International of Washington from $122.00 to $108.00 in a research report on Friday, January 6th. BNP Paribas began coverage on shares of Expeditors International of Washington in a research report on Thursday, December 1st. They set a neutral rating and a $107.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of Expeditors International of Washington from $95.00 to $100.00 and gave the company an underweight rating in a research report on Wednesday, February 22nd. Finally, Morgan Stanley dropped their price target on shares of Expeditors International of Washington from $90.00 to $87.00 and set an underweight rating for the company in a research report on Monday, February 27th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of Reduce and an average price target of $100.50.

Expeditors International of Washington Trading Down 0.9 %

Expeditors International of Washington stock traded down $0.92 during midday trading on Thursday, hitting $106.43. 2,046,482 shares of the stock were exchanged, compared to its average volume of 1,412,466. Expeditors International of Washington has a fifty-two week low of $86.08 and a fifty-two week high of $119.90. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 12.92 and a beta of 1.00. The stock’s 50-day simple moving average is $109.40 and its 200 day simple moving average is $104.32.

Insider Activity at Expeditors International of Washington

In related news, CEO Jeffrey S. Musser sold 10,000 shares of Expeditors International of Washington stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $109.76, for a total value of $1,097,600.00. Following the completion of the transaction, the chief executive officer now owns 137,309 shares in the company, valued at $15,071,035.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EXPD. First Trust Advisors LP lifted its stake in Expeditors International of Washington by 517.3% in the fourth quarter. First Trust Advisors LP now owns 2,144,696 shares of the transportation company’s stock worth $222,884,000 after acquiring an additional 1,797,268 shares during the last quarter. Norges Bank purchased a new position in Expeditors International of Washington in the fourth quarter worth approximately $133,106,000. Renaissance Technologies LLC lifted its stake in Expeditors International of Washington by 1,025.5% in the first quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock worth $102,192,000 after acquiring an additional 902,600 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Expeditors International of Washington by 266.0% in the second quarter. JPMorgan Chase & Co. now owns 1,180,808 shares of the transportation company’s stock worth $115,083,000 after acquiring an additional 858,185 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Expeditors International of Washington by 2,387.7% in the third quarter. Assetmark Inc. now owns 725,474 shares of the transportation company’s stock worth $64,067,000 after acquiring an additional 696,312 shares during the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.

About Expeditors International of Washington

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Expeditors International of Washington, Inc engages in the provision of global logistics services. The firm offers air freight, ocean freight and ocean and customs brokerage and other services. It also provides customer solutions such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.