Expeditors International of Washington (EXPD) Lowered to Sell at Goldman Sachs Group

Expeditors International of Washington (NASDAQ:EXPD) was downgraded by investment analysts at Goldman Sachs Group to a “sell” rating in a research report issued on Friday. They currently have a $68.00 target price on the transportation company’s stock. Goldman Sachs Group’s target price indicates a potential downside of 8.48% from the stock’s previous close.

EXPD has been the topic of several other research reports. BidaskClub raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Zacks Investment Research raised Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, November 13th. Finally, Deutsche Bank started coverage on Expeditors International of Washington in a research note on Tuesday, September 4th. They issued a “hold” rating and a $71.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.40.

Expeditors International of Washington stock opened at $74.30 on Friday. The firm has a market capitalization of $13.04 billion, a PE ratio of 29.96, a PEG ratio of 2.92 and a beta of 0.79. Expeditors International of Washington has a fifty-two week low of $59.10 and a fifty-two week high of $78.16.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, November 6th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.14. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Expeditors International of Washington had a net margin of 7.76% and a return on equity of 28.98%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, research analysts expect that Expeditors International of Washington will post 3.24 EPS for the current year.

In other news, VP Christopher J. Mcclincy sold 2,371 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $73.67, for a total transaction of $174,671.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey S. Musser sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $75.95, for a total value of $2,278,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 37,371 shares of company stock worth $2,820,772. 0.99% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Expeditors International of Washington by 3.0% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,027 shares of the transportation company’s stock valued at $1,976,000 after buying an additional 789 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Expeditors International of Washington by 14.0% during the third quarter. Daiwa Securities Group Inc. now owns 6,543 shares of the transportation company’s stock valued at $481,000 after buying an additional 806 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Expeditors International of Washington by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,632 shares of the transportation company’s stock valued at $2,473,000 after buying an additional 815 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Expeditors International of Washington by 1.9% during the third quarter. State of Alaska Department of Revenue now owns 46,234 shares of the transportation company’s stock valued at $3,397,000 after buying an additional 853 shares during the last quarter. Finally, Stone Ridge Asset Management LLC grew its stake in shares of Expeditors International of Washington by 3.9% during the third quarter. Stone Ridge Asset Management LLC now owns 23,093 shares of the transportation company’s stock valued at $1,698,000 after buying an additional 860 shares during the last quarter. 93.58% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.

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Analyst Recommendations for Expeditors International of Washington (NASDAQ:EXPD)

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