JPMorgan Chase & Co. Cuts Expeditors International of Washington (NASDAQ:EXPD) Price Target to $108.00

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $114.00 to $108.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 7.25% from the company's current price.

Other research analysts have also recently issued reports about the stock. Benchmark reissued a "hold" rating on shares of Expeditors International of Washington in a report on Wednesday. StockNews.com cut shares of Expeditors International of Washington from a "buy" rating to a "hold" rating in a report on Sunday, February 16th. Barclays upped their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, November 6th. Stifel Nicolaus reduced their target price on shares of Expeditors International of Washington from $122.00 to $117.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Finally, Bank of America reduced their target price on shares of Expeditors International of Washington from $129.00 to $120.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, Expeditors International of Washington presently has an average rating of "Hold" and an average price target of $116.56.

Expeditors International of Washington Stock Performance

Shares of EXPD traded down $0.82 during mid-day trading on Wednesday, hitting $116.44. 2,811,278 shares of the company traded hands, compared to its average volume of 1,120,276. The stock has a 50-day moving average price of $112.54 and a two-hundred day moving average price of $118.39. Expeditors International of Washington has a 1 year low of $108.36 and a 1 year high of $131.59. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 5.07 and a beta of 0.98.

Insiders Place Their Bets

In other Expeditors International of Washington news, Director Robert Paul Carlile sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total value of $363,330.00. Following the completion of the transaction, the director now directly owns 9,662 shares in the company, valued at $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.69% of the company's stock.

Hedge Funds Weigh In On Expeditors International of Washington

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ascent Group LLC boosted its position in shares of Expeditors International of Washington by 16.2% during the fourth quarter. Ascent Group LLC now owns 15,476 shares of the transportation company's stock worth $1,714,000 after acquiring an additional 2,155 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Expeditors International of Washington by 48.3% during the fourth quarter. Forum Financial Management LP now owns 2,419 shares of the transportation company's stock worth $268,000 after acquiring an additional 788 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Expeditors International of Washington during the fourth quarter worth $504,000. City National Bank of Florida MSD bought a new position in shares of Expeditors International of Washington during the fourth quarter worth $272,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Expeditors International of Washington by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,428,914 shares of the transportation company's stock worth $269,051,000 after acquiring an additional 27,965 shares during 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.