Expeditors International of Washington, Inc. (NASDAQ:EXPD) Receives Consensus Recommendation of “Reduce” from Brokerages

Expeditors International of Washington, Inc. (NASDAQ:EXPD) has been assigned a consensus recommendation of “Reduce” from the eleven analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $117.44.

Several research firms have recently commented on EXPD. Stifel Nicolaus decreased their price objective on Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. StockNews.com upgraded Expeditors International of Washington from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Barclays raised their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. TD Cowen raised their price target on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Finally, Bank of America lowered their price objective on shares of Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th.

Insiders Place Their Bets

In related news, Director Robert Paul Carlile sold 3,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Expeditors International of Washington

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Expeditors International of Washington by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,610 shares of the transportation company’s stock worth $109,536,000 after acquiring an additional 51,265 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Expeditors International of Washington in the third quarter worth about $4,363,000. Franklin Resources Inc. increased its stake in shares of Expeditors International of Washington by 18.9% during the third quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock valued at $23,623,000 after purchasing an additional 30,785 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $1,329,000. Finally, Drystone LLC purchased a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $5,925,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Stock Down 1.2 %

Shares of EXPD stock opened at $111.01 on Thursday. The business has a 50-day moving average price of $113.18 and a two-hundred day moving average price of $118.78. Expeditors International of Washington has a 12-month low of $108.36 and a 12-month high of $131.59. The firm has a market cap of $15.54 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 3.77 and a beta of 0.98.

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.