Trade Report: Today: Expeditors International of Washington Inc. (EXPD) Upgrade at The Zacks Investment Research

Today: Expeditors International of Washington Inc. (EXPD) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Expeditors International of Washington Inc. (NASDAQ:EXPD) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Expeditors performed disappointingly in the third quarter of 2016 reporting lower-than-expected earnings and revenues. Moreover, both metrics declined on a year-over-year basis. Soft air freight and ocean freight revenues hurt results in the quarter.  Gross profit also declined in the quarter due to lower revenues. The lackluster earnings report naturally displeased investors and resulted in the stock declining following the release. We are however encouraged by Expeditors' efforts to reward shareholders through dividend payments and buybacks. The company hiked its dividend payout by 11.1% in May 2016. During the third quarter, the company repurchased 2 million shares at an average price of $51.16 per share.”

EXPD has been the subject of a number of other research reports. Barclays PLC reissued a buy rating on shares of Expeditors International of Washington in a research report on Wednesday, November 9th. Stifel Nicolaus raised shares of Expeditors International of Washington from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Thursday, August 25th. Credit Suisse Group AG reissued a sell rating and issued a $46.00 price objective on shares of Expeditors International of Washington in a research report on Wednesday, August 3rd. Finally, Wolfe Research downgraded shares of Expeditors International of Washington from a peer perform rating to an underperform rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $50.80.

Expeditors International of Washington (NASDAQ:EXPD) opened at 53.11 on Wednesday. The company has a 50-day moving average of $51.04 and a 200 day moving average of $50.19. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 22.49 and a beta of 0.69. Expeditors International of Washington has a 52-week low of $40.41 and a 52-week high of $53.11.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.06. Expeditors International of Washington had a net margin of 7.18% and a return on equity of 24.45%. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business earned $0.62 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Expeditors International of Washington will post $2.35 EPS for the current year.

The company also recently announced a dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.40 dividend. The ex-dividend date is Tuesday, November 29th. Expeditors International of Washington’s payout ratio is presently 33.90%.

In related news, Director Michael J. Malone sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $51.13, for a total transaction of $1,636,160.00. Following the completion of the transaction, the director now directly owns 86,771 shares in the company, valued at approximately $4,436,601.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Malone sold 51,559 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $51.63, for a total transaction of $2,661,991.17. Following the transaction, the director now owns 133,074 shares of the company’s stock, valued at $6,870,610.62. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Expeditors International of Washington by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 540,552 shares of the company’s stock worth $26,509,000 after buying an additional 32,655 shares in the last quarter. Saratoga Research & Investment Management boosted its position in Expeditors International of Washington by 23.8% in the second quarter. Saratoga Research & Investment Management now owns 489,605 shares of the company’s stock worth $24,010,000 after buying an additional 94,020 shares in the last quarter. PGGM Investments boosted its position in Expeditors International of Washington by 10.8% in the second quarter. PGGM Investments now owns 783,479 shares of the company’s stock worth $38,422,000 after buying an additional 76,272 shares in the last quarter. Compass Capital Management Inc. boosted its position in Expeditors International of Washington by 3.2% in the second quarter. Compass Capital Management Inc. now owns 404,316 shares of the company’s stock worth $19,828,000 after buying an additional 12,622 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its position in Expeditors International of Washington by 6.7% in the second quarter. Ngam Advisors L.P. now owns 698,890 shares of the company’s stock worth $34,274,000 after buying an additional 43,967 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.

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