Expeditors International of Washington (EXPD) Stock Rating Upgraded by Zacks Investment Research

Expeditors International of Washington (NASDAQ:EXPD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $70.00 target price on the transportation company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.90% from the stock’s previous close.

According to Zacks, “Shares of Expeditors have outperformed its industry over the past year. The stock rallied 13% while its industry lost 0.8% in the period. The company has been benefitting from volume growth across all its primary divisions. Its efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. The company's sound balance sheet is also encouraging. Its asset-light business model allows it to maintain a debt-free balance sheet. However, high operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. Detailed results will be out on Feb 20. “

EXPD has been the topic of a number of other research reports. Cowen reaffirmed a “market perform” rating and issued a $58.00 price objective (up previously from $54.00) on shares of Expeditors International of Washington in a research note on Wednesday, November 8th. Credit Suisse Group lifted their price objective on Expeditors International of Washington from $51.00 to $56.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 8th. UBS Group lifted their price objective on Expeditors International of Washington from $48.00 to $56.00 and gave the stock a “sell” rating in a research note on Wednesday, November 8th. Goldman Sachs Group initiated coverage on Expeditors International of Washington in a research note on Monday, November 13th. They issued a “neutral” rating and a $59.00 price objective on the stock. Finally, BidaskClub downgraded Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.38.

Expeditors International of Washington (NASDAQ EXPD) traded up $0.75 during midday trading on Tuesday, reaching $63.12. The company had a trading volume of 1,290,861 shares, compared to its average volume of 1,115,262. Expeditors International of Washington has a one year low of $51.96 and a one year high of $67.54. The stock has a market cap of $10,772.34, a PE ratio of 26.35, a PEG ratio of 2.79 and a beta of 0.64.

In other news, insider Eugene K. Alger sold 10,269 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $60.40, for a total transaction of $620,247.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.78% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. bought a new position in shares of Expeditors International of Washington during the 4th quarter valued at approximately $103,000. Icon Wealth Partners LLC bought a new position in shares of Expeditors International of Washington during the 4th quarter valued at approximately $106,000. Canada Pension Plan Investment Board increased 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 purchasing an additional 1,900 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Expeditors International of Washington during the 4th quarter valued at approximately $137,000. Finally, Brown Advisory Securities LLC bought a new position in shares of Expeditors International of Washington during the 4th quarter valued at approximately $205,000. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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