abrdn plc Lowers Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

abrdn plc decreased its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 622,665 shares of the transportation company’s stock after selling 9,205 shares during the period. abrdn plc’s holdings in Expeditors International of Washington were worth $81,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Smith Group Asset Management LLC purchased a new position in Expeditors International of Washington in the third quarter worth $318,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Expeditors International of Washington in the 3rd quarter valued at about $453,000. Baker Tilly Wealth Management LLC grew its position in Expeditors International of Washington by 22.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 3,739 shares of the transportation company’s stock worth $491,000 after buying an additional 695 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Expeditors International of Washington by 1.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 803,807 shares of the transportation company’s stock valued at $101,756,000 after buying an additional 9,007 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of Expeditors International of Washington by 2.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 82,450 shares of the transportation company’s stock valued at $10,834,000 after acquiring an additional 1,647 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Performance

EXPD stock opened at $119.55 on Wednesday. The company has a 50 day moving average price of $122.83 and a two-hundred day moving average price of $121.12. The stock has a market capitalization of $16.87 billion, a P/E ratio of 25.65, a PEG ratio of 5.08 and a beta of 0.97. Expeditors International of Washington, Inc. has a one year low of $107.03 and a one year high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the firm earned $1.30 EPS. Expeditors International of Washington’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts forecast that Expeditors International of Washington, Inc. will post 5.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and raised their price objective for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Wolfe Research cut Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 9th. Bank of America lifted their price target on Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Robert W. Baird increased their price objective on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. Finally, TD Cowen cut shares of Expeditors International of Washington from a “hold” rating to a “sell” rating and cut their target price for the stock from $112.00 to $106.00 in a research report on Monday, October 14th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $115.33.

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.