Expeditors International of Washington (EXPD) Rating Lowered to Hold at Zacks Investment Research

Expeditors International of Washington (NASDAQ:EXPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Shares of Expeditors have outperformed its industry over the past year. 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 are a cause of concern for Expeditors.  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. Moreover, the challenging conditions in the airfreight services market due to overcapacity woes raise concerns. With the company operating globally, adverse foreign currency movements are another concern. “

EXPD has been the topic of a number of other research reports. Cowen reiterated a “market perform” rating and set a $58.00 target price (up previously from $54.00) on shares of Expeditors International of Washington in a report on Wednesday, November 8th. Credit Suisse Group upped their price objective on Expeditors International of Washington from $51.00 to $56.00 and gave the company an “underperform” rating in a research report on Wednesday, November 8th. UBS Group upped their price objective on Expeditors International of Washington from $48.00 to $56.00 and gave the company a “sell” rating in a research report on Wednesday, November 8th. Goldman Sachs Group began coverage on Expeditors International of Washington in a research report on Monday, November 13th. They issued a “neutral” rating and a $59.00 price objective on the stock. Finally, BidaskClub cut Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.88.

Expeditors International of Washington (NASDAQ EXPD) traded down $1.07 on Friday, reaching $59.29. The company’s stock had a trading volume of 617,056 shares, compared to its average volume of 1,041,097. The company has a market cap of $11,040.68, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. Expeditors International of Washington has a fifty-two week low of $51.96 and a fifty-two week high of $67.54.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, November 7th. The transportation company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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%. Expeditors International of Washington’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. research analysts expect that Expeditors International of Washington will post 2.41 EPS for the current year.

In other news, insider Eugene K. Alger sold 10,269 shares of the stock in a transaction 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sentry Investment Management LLC lifted its holdings in shares of Expeditors International of Washington by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 11,578 shares of the transportation company’s stock valued at $654,000 after buying an additional 116 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Expeditors International of Washington by 5.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,274 shares of the transportation company’s stock valued at $411,000 after buying an additional 404 shares during the period. BTIM Corp. lifted its holdings in shares of Expeditors International of Washington by 0.5% during the 4th quarter. BTIM Corp. now owns 141,526 shares of the transportation company’s stock valued at $9,156,000 after buying an additional 762 shares during the period. JLB & Associates Inc. lifted its holdings in shares of Expeditors International of Washington by 2.1% during the 4th quarter. JLB & Associates Inc. now owns 42,572 shares of the transportation company’s stock valued at $2,753,000 after buying an additional 861 shares during the period. Finally, QS Investors LLC lifted its holdings in shares of Expeditors International of Washington by 10.9% during the 2nd quarter. QS Investors LLC now owns 9,109 shares of the transportation company’s stock valued at $514,000 after buying an additional 896 shares during the period. 93.47% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.com-unik.info/2018/02/09/expeditors-international-of-washington-expd-rating-lowered-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Expeditors International of Washington (EXPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Expeditors International of Washington Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expeditors International of Washington and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit