Redwood Investment Management LLC Takes Position in Expeditors International of Washington, Inc. $EXPD

Redwood Investment Management LLC acquired a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,196 shares of the transportation company’s stock, valued at approximately $1,173,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Corient Private Wealth LP acquired a new stake in Expeditors International of Washington during the 2nd quarter worth about $8,045,000. Bank of America Corp DE lifted its holdings in shares of Expeditors International of Washington by 0.8% in the 2nd quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company’s stock valued at $421,456,000 after buying an additional 21,400 shares during the period. Caisse de depot et placement du Quebec acquired a new position in shares of Expeditors International of Washington in the 2nd quarter valued at about $169,665,000. Man Group plc purchased a new stake in shares of Expeditors International of Washington in the second quarter worth about $11,939,000. Finally, Roberts Glore & Co. Inc. IL acquired a new stake in Expeditors International of Washington during the second quarter worth about $4,071,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXPD has been the subject of a number of analyst reports. UBS Group boosted their price target on Expeditors International of Washington from $191.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Truist Financial lifted their target price on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Bank of America boosted their target price on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Susquehanna increased their price target on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, TD Cowen raised their price target on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the company a “sell” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.78.

Expeditors International of Washington Stock Performance

Shares of EXPD opened at $190.27 on Thursday. Expeditors International of Washington, Inc. has a one year low of $112.94 and a one year high of $191.79. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 5.00 and a beta of 1.04. The stock has a 50 day moving average price of $174.59 and a 200 day moving average price of $159.26.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.34. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS. On average, analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Profile

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.