Price Action Don’t Lie: Could Expeditors International of Washington Change Direction After Reaching 52-Week High?

Price Action Don't Lie: Could Expeditors International of Washington Change Direction After Reaching 52 Week High?

The stock of Expeditors International of Washington (NASDAQ:EXPD) hit a new 52-week high and has $58.22 target or 9.00% above today’s $53.41 share price. The 5 months bullish chart indicates low risk for the $9.63B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $58.22 price target is reached, the company will be worth $866.70M 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 822,870 shares traded hands. Expeditors International of Washington (NASDAQ:EXPD) has risen 5.80% since April 28, 2016 and is uptrending. It has underperformed by 0.13% the S&P500.

Analysts await Expeditors International of Washington (NASDAQ:EXPD) to report earnings on February, 28. They expect $0.60 EPS, down 1.64% or $0.01 from last year’s $0.61 per share. EXPD’s profit will be $108.20 million for 22.25 P/E if the $0.60 EPS becomes a reality. After $0.59 actual EPS 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 stock of Expeditors International of Washington (NASDAQ:EXPD) has “Neutral” rating given on Wednesday, November 4 by Macquarie Research. The stock has “Buy” rating given by Zacks on Tuesday, August 25. Cowen & Co initiated the shares of EXPD in a report on Friday, March 18 with “Market Perform” rating. The rating was maintained by S&P Research on Tuesday, September 22 with “Buy”. The stock of Expeditors International of Washington (NASDAQ:EXPD) earned “Neutral” rating by Buckingham Research on Wednesday, November 4. The firm earned “Hold” rating on Thursday, April 21 by BB&T Capital. The stock of Expeditors International of Washington (NASDAQ:EXPD) earned “Buy” rating by Zacks on Monday, August 31. The rating was initiated by Evercore with “Hold” on Wednesday, August 19. The rating was downgraded by RBC Capital Markets on Thursday, January 7 to “Sector Perform”. Barclays Capital maintained Expeditors International of Washington (NASDAQ:EXPD) on Monday, October 5 with “Equal-Weight” rating.

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 turned negative, 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.
First Allied Advisory accumulated 0.03% or 9,940 shares. Ellington Gru Ltd Liability Company last reported 4,100 shares in the company. The Ohio-based Meeder Asset Management has invested 0.01% in Expeditors International of Washington (NASDAQ:EXPD). Tiaa Cref Mngmt Ltd Company has invested 0.02% of its portfolio in Expeditors International of Washington (NASDAQ:EXPD). The Minnesota-based Walleye Trading has invested 0.01% in Expeditors International of Washington (NASDAQ:EXPD). Lucus Advsr Ltd Liability Corp owns 7,120 shares or 0.29% of their US portfolio. Ubs Asset Americas accumulated 1.32 million shares or 0.07% of the stock. Natl Pension, a Korea-based fund reported 153,579 shares. Farmers Merchants Invs has 76,447 shares for 0.42% of their US portfolio. Kayne Anderson Rudnick Invest Limited Co has 670,161 shares for 0.5% of their US portfolio. Saratoga Research And Investment Mgmt last reported 489,605 shares in the company. Middleton & Inc Ma last reported 0.44% of its portfolio in the stock. Geode Limited Liability Company owns 1.72M shares or 0.05% of their US portfolio. Moreover, Old Mutual Customised Solutions (Proprietary) has 0.03% invested in Expeditors International of Washington (NASDAQ:EXPD) for 2,200 shares. Primecap Mngmt Ca last reported 0.05% of its portfolio in the stock.

Insider Transactions: Since June 9, 2016, the stock had 0 buys, and 3 insider sales for $5.66 million net activity. MALONE MICHAEL J sold $1.36M worth of stock or 26,646 shares.

More recent Expeditors International of Washington (NASDAQ:EXPD) news were published by: Forbes.com which released: “Relative Strength Alert For Expeditors International of Washington” on October 18, 2016. Also Forbes.com published the news titled: “Expeditors International of Washington Reaches Analyst Target Price” on October 31, 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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