Expeditors International of Washington (NASDAQ:EXPD) Reaches New 12-Month High Following Analyst Upgrade

Expeditors International of Washington, Inc. (NASDAQ:EXPD)’s stock price reached a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $145.00 to $175.00. Truist Financial currently has a hold rating on the stock. Expeditors International of Washington traded as high as $178.64 and last traded at $178.2020, with a volume of 1771704 shares traded. The stock had previously closed at $175.50.

Other analysts have also recently issued research reports about the company. Barclays upped their price objective on Expeditors International of Washington from $135.00 to $150.00 and gave the company an “underweight” rating in a research note on Thursday, June 25th. UBS Group lifted their target price on Expeditors International of Washington from $175.00 to $191.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on Expeditors International of Washington from $135.00 to $139.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Susquehanna upped their price target on Expeditors International of Washington from $142.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus raised their price objective on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Expeditors International of Washington has an average rating of “Hold” and an average target price of $148.56.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Elyxium Wealth LLC bought a new stake in shares of Expeditors International of Washington during the fourth quarter valued at about $28,000. DV Equities LLC acquired a new stake in Expeditors International of Washington in the fourth quarter worth about $28,000. Nalls Sherbakoff Group LLC bought a new position in Expeditors International of Washington in the 4th quarter valued at about $30,000. Bard Associates Inc. bought a new position in Expeditors International of Washington in the 4th quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. increased its stake in Expeditors International of Washington by 132.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company’s stock valued at $34,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

The stock has a market cap of $23.77 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 5.00 and a beta of 1.04. The company’s 50 day simple moving average is $162.75 and its 200 day simple moving average is $154.91.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.47 earnings per share. Sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.81 dividend. This represents a yield of 101.0%. The ex-dividend date was Monday, June 1st. Expeditors International of Washington’s dividend payout ratio is 26.21%.

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.