Bank of America Lowers Expeditors International of Washington (NASDAQ:EXPD) Price Target to $120.00

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its price objective lowered by investment analysts at Bank of America from $129.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. Bank of America's target price points to a potential upside of 8.81% from the company's previous close.

A number of other equities analysts have also commented on EXPD. Barclays increased their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a research note on Wednesday, November 6th. TD Cowen raised their target price on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. Finally, Wolfe Research cut shares of Expeditors International of Washington from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $117.11.

Expeditors International of Washington Price Performance

Shares of EXPD stock traded down $0.93 during mid-day trading on Thursday, hitting $110.28. The company had a trading volume of 1,701,693 shares, compared to its average volume of 1,146,808. The stock's 50 day moving average price is $116.25 and its 200-day moving average price is $120.04. Expeditors International of Washington has a 52-week low of $108.36 and a 52-week high of $131.59. The company has a market capitalization of $15.44 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.18 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.30. Expeditors International of Washington had a net margin of 7.39% and a return on equity of 32.12%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $1.16 EPS. Expeditors International of Washington's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities research analysts expect that Expeditors International of Washington will post 5.47 earnings per share for the current year.

Insider Transactions at Expeditors International of Washington

In other news, Director Robert Paul Carlile sold 3,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $121.11, for a total value of $363,330.00. Following the sale, the director now directly owns 9,662 shares in the company, valued at approximately $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Expeditors International of Washington

Hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its stake in shares of Expeditors International of Washington by 3.0% during the second quarter. First Eagle Investment Management LLC now owns 2,777,134 shares of the transportation company's stock valued at $346,559,000 after purchasing an additional 82,107 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Expeditors International of Washington by 12.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,400,949 shares of the transportation company's stock valued at $315,485,000 after buying an additional 257,791 shares in the last quarter. Marshfield Associates boosted its position in Expeditors International of Washington by 0.4% in the 3rd quarter. Marshfield Associates now owns 1,818,027 shares of the transportation company's stock valued at $238,889,000 after buying an additional 6,878 shares during the period. ProShare Advisors LLC boosted its position in Expeditors International of Washington by 16.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company's stock valued at $197,538,000 after buying an additional 227,671 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Expeditors International of Washington by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,278,815 shares of the transportation company's stock worth $159,595,000 after acquiring an additional 85,393 shares in the last quarter. Institutional investors own 94.02% of the company's stock.

About Expeditors International of Washington

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.