Short Interest in Expeditors International of Washington Declines By 31.0% (EXPD)
Shares of Expeditors International of Washington (NASDAQ:EXPD) were the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 4,129,905 shares, a decrease of 31.0% from the July 31st total of 5,987,223 shares, Analyst RN reports. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 2,040,130 shares, the days-to-cover ratio is presently 2.0 days.
A number of research firms have recently commented on EXPD. Analysts at Credit Suisse downgraded shares of Expeditors International of Washington from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $43.00 price target on the stock, down previously from $45.00. Analysts at Robert W. Baird cut their price target on shares of Expeditors International of Washington from $49.00 to $44.00 in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.71.
Shares of Expeditors International of Washington (NASDAQ:EXPD) opened at 41.66 on Wednesday. Expeditors International of Washington has a one year low of $38.42 and a one year high of $46.90. The stock has a 50-day moving average of $42.57 and a 200-day moving average of $42.27. The company has a market cap of $8.128 billion and a price-to-earnings ratio of 23.87.
Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that Expeditors International of Washington will post $1.85 earnings per share for the current fiscal year.
Expeditors International of Washington, Inc is engaged in the business of providing global logistics services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.