Expeditors International of Washington (NASDAQ:EXPD) Short Interest Down 12.2% in August

Expeditors International of Washington (NASDAQ:EXPD) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 4,655,300 shares, a decrease of 12.2% from the July 31st total of 5,302,800 shares. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 4.4 days. Approximately 2.7% of the company’s shares are short sold.

A number of research firms have recently weighed in on EXPD. UBS Group set a $67.00 target price on shares of Expeditors International of Washington and gave the stock a “sell” rating in a report on Wednesday, August 7th. BidaskClub upgraded shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday. Stifel Nicolaus lowered their price objective on shares of Expeditors International of Washington from $73.00 to $72.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Cowen restated a “hold” rating and issued a $79.00 price objective on shares of Expeditors International of Washington in a report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $73.13.

In other news, insider Eugene K. Alger sold 39,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $71.24, for a total transaction of $2,778,360.00. Following the completion of the sale, the insider now directly owns 48,787 shares in the company, valued at $3,475,585.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eugene K. Alger sold 36,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $71.05, for a total transaction of $2,557,800.00. Following the sale, the insider now owns 45,787 shares of the company’s stock, valued at $3,253,166.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,860 shares of company stock valued at $5,586,330. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EXPD. Geode Capital Management LLC lifted its holdings in Expeditors International of Washington by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 2,625,188 shares of the transportation company’s stock worth $178,482,000 after buying an additional 113,850 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Expeditors International of Washington during the first quarter valued at approximately $241,000. Stephens Inc. AR increased its stake in shares of Expeditors International of Washington by 20.1% during the first quarter. Stephens Inc. AR now owns 26,449 shares of the transportation company’s stock valued at $2,007,000 after purchasing an additional 4,421 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of Expeditors International of Washington during the first quarter valued at approximately $222,000. Finally, First Allied Advisory Services Inc. increased its stake in shares of Expeditors International of Washington by 5.1% during the first quarter. First Allied Advisory Services Inc. now owns 8,682 shares of the transportation company’s stock valued at $660,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

EXPD traded up $1.01 on Friday, hitting $76.22. The company had a trading volume of 1,049,609 shares, compared to its average volume of 777,847. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.12 and a quick ratio of 2.12. Expeditors International of Washington has a 52-week low of $62.90 and a 52-week high of $80.69. The stock has a fifty day simple moving average of $72.35 and a 200-day simple moving average of $74.57. The firm has a market capitalization of $12.95 billion, a P/E ratio of 21.90 and a beta of 0.96.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.08. Expeditors International of Washington had a net margin of 7.57% and a return on equity of 31.26%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business posted $0.79 earnings per share. Expeditors International of Washington’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that Expeditors International of Washington will post 3.53 earnings per share for the current fiscal year.

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, including 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, temperature-controlled transit, cargo insurance, and other logistics solutions.

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