Expeditors International of Washington (EXPD) Given New $63.00 Price Target at Credit Suisse Group

Expeditors International of Washington (NASDAQ:EXPD) had its price target hoisted by Credit Suisse Group from $56.00 to $63.00 in a report issued on Tuesday. The firm presently has an “underperform” rating on the transportation company’s stock. Credit Suisse Group’s price target would indicate a potential downside of 5.59% from the stock’s current price.

A number of other research analysts have also weighed in on EXPD. Barclays reaffirmed a “buy” rating and set a $70.00 target price on shares of Expeditors International of Washington in a report on Tuesday, January 9th. BidaskClub lowered Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Cowen lifted their target price on Expeditors International of Washington from $54.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, November 8th. UBS Group lifted their target price on Expeditors International of Washington from $48.00 to $56.00 and gave the company a “sell” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research lowered Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.13.

Shares of Expeditors International of Washington (NASDAQ:EXPD) traded up $0.34 on Tuesday, reaching $66.73. The company had a trading volume of 585,300 shares, compared to its average volume of 1,000,589. Expeditors International of Washington has a 52 week low of $51.57 and a 52 week high of $66.83. The stock has a market cap of $11,858.11, a price-to-earnings ratio of 27.92, a P/E/G ratio of 3.14 and a beta of 0.72.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, November 7th. The transportation company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.06. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.72 billion. Expeditors International of Washington had a return on equity of 22.32% and a net margin of 6.50%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. sell-side analysts expect that Expeditors International of Washington will post 2.41 EPS for the current fiscal year.

In other news, insider Eugene K. Alger sold 10,269 shares of Expeditors International of Washington stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $60.40, for a total transaction of $620,247.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.78% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of Expeditors International of Washington by 10,555.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock valued at $115,000 after acquiring an additional 1,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Expeditors International of Washington by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,605 shares of the transportation company’s stock valued at $147,000 after acquiring an additional 471 shares during the last quarter. Merriman Wealth Management LLC bought a new stake in shares of Expeditors International of Washington during the 3rd quarter valued at about $208,000. Virtu Financial LLC bought a new stake in shares of Expeditors International of Washington during the 3rd quarter valued at about $212,000. Finally, Sigma Planning Corp bought a new stake in shares of Expeditors International of Washington during the 3rd quarter valued at about $216,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.

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About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.