Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 9,100,000 shares, an increase of 19.4% from the December 31st total of 7,620,000 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 5.6 days. Approximately 5.8% of the company's shares are sold short.
Wall Street Analyst Weigh In
A number of brokerages recently commented on EXPD. Barclays lowered their target price on shares of Expeditors International of Washington from $95.00 to $90.00 and set an "underweight" rating for the company in a research note on Thursday, October 13th. Morgan Stanley dropped their price objective on Expeditors International of Washington from $94.00 to $86.00 and set an "underweight" rating on the stock in a report on Monday, October 3rd. Cowen dropped their price objective on Expeditors International of Washington from $122.00 to $108.00 in a report on Friday, January 6th. Susquehanna decreased their target price on shares of Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Finally, BNP Paribas initiated coverage on shares of Expeditors International of Washington in a research note on Thursday, December 1st. They set a "neutral" rating and a $107.00 target price for the company. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of "Hold" and a consensus price target of $99.89.
Get Expeditors International of Washington alerts:Expeditors International of Washington Price Performance
Shares of EXPD stock traded down $1.32 during midday trading on Monday, reaching $106.40. 212,491 shares of the company traded hands, compared to its average volume of 1,368,852. The firm's 50 day simple moving average is $109.19 and its two-hundred day simple moving average is $102.82. Expeditors International of Washington has a 1-year low of $86.08 and a 1-year high of $116.97. The firm has a market cap of $16.93 billion, a PE ratio of 11.32 and a beta of 0.98.
Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last released its earnings results on Tuesday, November 8th. The transportation company reported $2.54 EPS for the quarter, topping the consensus estimate of $1.92 by $0.62. The firm had revenue of $4.36 billion during the quarter, compared to analysts' expectations of $4.21 billion. Expeditors International of Washington had a net margin of 8.36% and a return on equity of 44.27%. Expeditors International of Washington's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 EPS. As a group, research analysts anticipate that Expeditors International of Washington will post 8.69 earnings per share for the current fiscal year.Expeditors International of Washington Announces Dividend
The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a dividend yield of 1.2%. Expeditors International of Washington's dividend payout ratio (DPR) is presently 14.08%.
Insider Buying and Selling at Expeditors International of Washington
In other Expeditors International of Washington news, CFO Bradley S. Powell sold 17,206 shares of the business's stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total value of $1,827,793.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Expeditors International of Washington news, insider Eugene K. Alger sold 11,500 shares of the business's stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $113.43, for a total value of $1,304,445.00. Following the completion of the transaction, the insider now owns 17,879 shares in the company, valued at $2,028,014.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bradley S. Powell sold 17,206 shares of the business's stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $106.23, for a total transaction of $1,827,793.38. The disclosure for this sale can be found here. Insiders have sold a total of 29,692 shares of company stock valued at $3,237,336 over the last quarter. 0.55% of the stock is owned by company insiders.
Hedge Funds Weigh In On Expeditors International of Washington
A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in shares of Expeditors International of Washington by 1,025.5% during the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company's stock valued at $102,192,000 after acquiring an additional 902,600 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Expeditors International of Washington by 266.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,180,808 shares of the transportation company's stock worth $115,083,000 after buying an additional 858,185 shares in the last quarter. Assetmark Inc. lifted its holdings in Expeditors International of Washington by 2,387.7% in the 3rd quarter. Assetmark Inc. now owns 725,474 shares of the transportation company's stock worth $64,067,000 after buying an additional 696,312 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Expeditors International of Washington by 299.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 842,131 shares of the transportation company's stock worth $74,369,000 after buying an additional 631,429 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Expeditors International of Washington by 99.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,060,119 shares of the transportation company's stock worth $103,319,000 after buying an additional 529,349 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company's stock.
About Expeditors International of Washington
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Expeditors International of Washington, Inc engages in the provision of global logistics services. The firm offers air freight, ocean freight and ocean and customs brokerage and other services. It also provides 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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