UBS Group Cuts Expeditors International of Washington (NASDAQ:EXPD) Price Target to $128.00

Expeditors International of Washington (NASDAQ:EXPD) had its price target trimmed by UBS Group from $130.00 to $128.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Barclays increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Bank of America reduced their target price on shares of Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus reduced their target price on shares of Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $116.56.

Expeditors International of Washington Price Performance

EXPD opened at $116.44 on Wednesday. Expeditors International of Washington has a fifty-two week low of $108.36 and a fifty-two week high of $131.59. The firm has a market capitalization of $16.30 billion, a PE ratio of 20.36, a P/E/G ratio of 5.07 and a beta of 0.98. The company’s 50-day moving average is $112.54 and its 200 day moving average is $118.39.

Insiders Place Their Bets

In other news, Director Robert Paul Carlile sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total value of $363,330.00. Following the transaction, the director now owns 9,662 shares in the company, valued at approximately $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Expeditors International of Washington by 106.9% in the third quarter. Blue Trust Inc. now owns 2,257 shares of the transportation company’s stock worth $282,000 after acquiring an additional 1,166 shares during the period. Raymond James & Associates increased its stake in shares of Expeditors International of Washington by 2.2% in the third quarter. Raymond James & Associates now owns 274,813 shares of the transportation company’s stock worth $36,110,000 after purchasing an additional 6,014 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Expeditors International of Washington by 2,286.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 321,879 shares of the transportation company’s stock worth $42,295,000 after purchasing an additional 308,390 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Expeditors International of Washington by 6.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,744 shares of the transportation company’s stock worth $361,000 after purchasing an additional 178 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Expeditors International of Washington in the third quarter worth $293,000. Institutional investors own 94.02% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.