Expeditors International of Washington (NASDAQ:EXPD) Stock Price Target Raised at Truist Financial

Expeditors International of Washington (NASDAQ:EXPD) had its target price increased by Truist Financial from $175.00 to $200.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the transportation company’s stock.

Several other analysts have also commented on the company. JPMorgan Chase & Co. boosted their price target on Expeditors International of Washington from $200.00 to $214.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Bank of America increased their price objective on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Stifel Nicolaus lifted their price objective on Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Stephens raised Expeditors International of Washington to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Zacks Research downgraded shares of Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $181.27.

Expeditors International of Washington Trading Down 3.5%

EXPD stock opened at $197.09 on Wednesday. Expeditors International of Washington has a 1-year low of $129.59 and a 1-year high of $207.93. The firm has a market cap of $25.62 billion, a P/E ratio of 34.46, a P/E/G ratio of 5.00 and a beta of 1.07. The business’s 50 day moving average is $192.46 and its 200-day moving average is $167.63.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, November 3rd. The transportation company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.43. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%. The business’s revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. Sell-side analysts forecast that Expeditors International of Washington will post 5.39 EPS for the current year.

Expeditors International of Washington Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.81 dividend. The ex-dividend date is Tuesday, December 1st. This represents a dividend yield of 79.0%. Expeditors International of Washington’s payout ratio is 23.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EXPD. Verdence Capital Advisors LLC increased its position in Expeditors International of Washington by 2.1% in the third quarter. Verdence Capital Advisors LLC now owns 2,472 shares of the transportation company’s stock worth $456,000 after purchasing an additional 51 shares during the period. Quadrant Capital Group LLC lifted its position in Expeditors International of Washington by 1.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,886 shares of the transportation company’s stock valued at $758,000 after purchasing an additional 56 shares during the period. Mather Group LLC. lifted its position in Expeditors International of Washington by 6.4% during the 3rd quarter. Mather Group LLC. now owns 1,051 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 63 shares during the period. RFG Advisory LLC boosted its stake in shares of Expeditors International of Washington by 3.5% in the 2nd quarter. RFG Advisory LLC now owns 1,882 shares of the transportation company’s stock valued at $307,000 after purchasing an additional 64 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Expeditors International of Washington by 76.0% in the 3rd quarter. Fortitude Family Office LLC now owns 176 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 76 shares during the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Expeditors International of Washington

Here are the key news stories impacting Expeditors International of Washington this week:

• Positive Sentiment: Strong Q3 results: EPS rose 62% year over year to $2.65, beating the roughly $2.22 consensus, while revenue increased 42% to $4.1 billion. Higher airfreight tonnage, recovering ocean volumes and customs activity supported results. Expeditors Q3 results
• Positive Sentiment: UBS raised its target: UBS lifted its price target to $245 from $220 and reiterated a Buy rating, signaling substantial upside in its view. UBS price target update
• Positive Sentiment: Dividend declared: Expeditors announced a semi-annual cash dividend of $0.81 per share, payable December 15 to shareholders of record December 1. Dividend announcement
• Neutral Sentiment: Other analyst updates were mixed: JPMorgan raised its target to $220 but kept a Neutral rating; Truist raised its target to $200 and maintained Hold. JPMorgan target update
• Negative Sentiment: Bearish view remains: Barclays raised its target to $175 from $165 but kept an Underweight rating; that target remains below the stock’s recent level. Investors may also be weighing valuation after the strong results. Barclays rating

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.