The stock of Expeditors International of Washington (NASDAQ:EXPD) hit a new 52-week high and has $54.28 target or 3.00% above today’s $52.70 share price. The 7 months bullish chart indicates low risk for the $9.59 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $54.28 price target is reached, the company will be worth $287.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 420,555 shares traded hands. Expeditors International of Washington (NASDAQ:EXPD) has risen 7.66% since April 21, 2016 and is uptrending. It has outperformed by 2.33% the S&P500.
Analysts await Expeditors International of Washington (NASDAQ:EXPD) to report earnings on February, 28. They expect $0.60 earnings per share, down 1.64% or $0.01 from last year’s $0.61 per share. EXPD’s profit will be $109.18 million for 21.96 P/E if the $0.60 EPS becomes a reality. After $0.59 actual earnings per share reported by Expeditors International of Washington for the previous quarter, Wall Street now forecasts 1.69% EPS growth.
Expeditors International of Washington (NASDAQ:EXPD) Ratings Coverage
Out of 12 analysts covering Expeditors International of Washington (NASDAQ:EXPD), 3 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 25% are positive. Expeditors International of Washington has been the topic of 23 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks to “Buy” on Monday, August 31. The rating was initiated by UBS with “Neutral” on Friday, October 9. The company was downgraded on Thursday, January 7 by RBC Capital Markets. The rating was maintained by S&P Research with “Buy” on Tuesday, September 22. On Thursday, January 7 the stock rating was downgraded by UBS to “Sell”. On Thursday, April 21 the stock rating was downgraded by BB&T Capital to “Hold”. Barclays Capital upgraded the shares of EXPD in a report on Friday, April 15 to “Overweight” rating. The firm earned “Market Perform” rating on Friday, March 18 by Cowen & Co. As per Monday, April 4, the company rating was downgraded by Stephens. The firm earned “Neutral” rating on Tuesday, December 15 by Buckingham Research.
According to Zacks Investment Research, “Expeditors International of Washington, Inc. is engaged in the business of providing global logistics services. The company offers its customers a seamless international network supporting the movement and strategic positioning of goods. The company’s services include the consolidation or forwarding of air and ocean freight. In each U.S. office, and in many overseas offices, the company acts as a customs broker. The company also provides additional services including distribution management, vendor consolidation, cargo insurance, and purchase order management.”
Insitutional Activity: The institutional sentiment decreased to 0.78 in Q2 2016. Its down 0.22, from 1 in 2016Q1. The ratio dropped, as 43 funds sold all Expeditors International of Washington shares owned while 170 reduced positions. 37 funds bought stakes while 177 increased positions. They now own 164.14 million shares or 2.34% less from 168.07 million shares in 2016Q1.
Envestnet Asset Mngmt owns 173,861 shares or 0.03% of their US portfolio. Mitsubishi Ufj, a Japan-based fund reported 435,255 shares. Sector Pension Invest Board has invested 0.02% of its portfolio in Expeditors International of Washington (NASDAQ:EXPD). Gateway Investment Advisers Limited Liability accumulated 0.01% or 12,881 shares. Whittier Trust Com accumulated 419 shares or 0% of the stock. Lombard Odier Asset (Switzerland) Sa holds 0.19% or 28,201 shares in its portfolio. First Quadrant Ltd Partnership Ca, a California-based fund reported 301,900 shares. Livforsakringsbolaget Skandia Omsesidigt owns 20,772 shares or 0.05% of their US portfolio. Hightower Advisors Ltd Company accumulated 0.05% or 82,269 shares. M&T Bankshares holds 0.01% of its portfolio in Expeditors International of Washington (NASDAQ:EXPD) for 40,632 shares. Oregon Public Employees Retirement Fund has 0.05% invested in the company for 47,568 shares. Norinchukin Natl Bank The accumulated 0.05% or 40,246 shares. Ledyard Natl Bank holds 0% or 385 shares in its portfolio. Chevy Chase Trust last reported 155,526 shares in the company. Gulf Bankshares (Uk) Ltd, a United Kingdom-based fund reported 57,894 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 4 insider sales for $6.26 million net activity. 12,460 shares were sold by ALGER EUGENE K, worth $604,310 on Wednesday, June 1. MALONE MICHAEL J also sold $1.64M worth of Expeditors International of Washington (NASDAQ:EXPD) on Thursday, November 17. $489,700 worth of Expeditors International of Washington (NASDAQ:EXPD) was sold by Wall Daniel R on Thursday, May 26.
More recent Expeditors International of Washington (NASDAQ:EXPD) news were published by: Forbes.com which released: “Expeditors International of Washington Reaches Analyst Target Price” on October 31, 2016. Also Forbes.com published the news titled: “Relative Strength Alert For Expeditors International of Washington” on October 18, 2016. Forbes.com‘s news article titled: “Carmax Becomes #11 Most Shorted S&P 500 Component, Replacing Expeditors …” with publication date: August 10, 2016 was also an interesting one.
EXPD Company Profile
Expeditors International of Washington, Inc., incorporated on May 29, 1979, is a logistics company. The Firm 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 Firm 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. In addition, the Company’s Project Cargo unit handles special project shipments that move through a single method or combination of air, ocean, and/or ground transportation. The Company’s primary services include airfreight services, ocean freight and ocean services, and customs brokerage and other services. The Firm is managed along five geographic areas: the Americas; North Asia; South Asia; Europe, and the Middle East, Africa and India.
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