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

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

According to Zacks, “Shares of Expeditors have outperformed its industry on a year-to-date basis. The company reported better-than-expected earnings and revenues in the third quarter. Growth was witnessed across all major divisions of the company. Moreover, volumes improved across all its primary divisions. The company's efforts to reward shareholders through dividend payments and buybacks are encouraging. The company hiked its dividend payout by 5% in May 2017. However, high operating expenses are a cause of concern for Expeditors. Operating expenses in the third quarter rose 15.8% year-over-year. High operating expenses have the potantial to hurt the bottom line in the fourth quarter as well. The challenging conditions in the airfreight services market due to overcapacity woes raise concerns. We are also concerned about the adverse impact of foreign currency movements.”

Several other equities research analysts have also recently issued reports on EXPD. Credit Suisse Group raised their target price on shares of Expeditors International of Washington from $51.00 to $56.00 and gave the stock an “underperform” rating in a report on Wednesday, November 8th. BidaskClub cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company restated a “market perform” rating and issued a $58.00 target price (up previously from $54.00) on shares of Expeditors International of Washington in a report on Wednesday, November 8th. Stifel Nicolaus restated a “hold” rating and issued a $52.00 target price (down previously from $54.00) on shares of Expeditors International of Washington in a report on Friday, August 11th. Finally, The Goldman Sachs Group, Inc. assumed coverage on shares of Expeditors International of Washington in a report on Monday. They issued a “neutral” rating and a $59.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $59.38.

Expeditors International of Washington (NASDAQ:EXPD) traded up $0.80 during trading hours on Wednesday, hitting $59.78. 1,387,800 shares of the stock were exchanged, compared to its average volume of 1,118,046. Expeditors International of Washington has a 1 year low of $50.48 and a 1 year high of $62.63. The stock has a market capitalization of $10,480.91, a PE ratio of 24.68, a price-to-earnings-growth ratio of 3.06 and a beta of 0.68.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 7th. The transportation company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.06. Expeditors International of Washington had a net margin of 6.50% and a return on equity of 22.32%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. equities research analysts expect that Expeditors International of Washington will post 2.41 earnings per share for the current fiscal year.

WARNING: This story was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://stocknewstimes.com/2017/11/17/expeditors-international-of-washington-inc-expd-rating-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors have recently modified their holdings of EXPD. Teachers Advisors LLC boosted its stake in shares of Expeditors International of Washington by 5.4% during the 1st quarter. Teachers Advisors LLC now owns 260,154 shares of the transportation company’s stock worth $14,696,000 after acquiring an additional 13,288 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Expeditors International of Washington by 9.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 6,870 shares of the transportation company’s stock worth $388,000 after acquiring an additional 600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Expeditors International of Washington by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 595,893 shares of the transportation company’s stock worth $33,662,000 after acquiring an additional 16,542 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Expeditors International of Washington by 11.5% during the 2nd quarter. Bank of Montreal Can now owns 98,446 shares of the transportation company’s stock worth $5,561,000 after acquiring an additional 10,152 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Expeditors International of Washington by 117.0% during the 2nd quarter. Creative Planning now owns 6,453 shares of the transportation company’s stock worth $364,000 after acquiring an additional 3,479 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Expeditors International of Washington Company Profile

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.

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

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

Latest News

Leave a Reply