Graypoint LLC, an institutional investor, has recently acquired a new position in Expeditors International of Washington, Inc. (NASDAQ: EXPD), according to their 13F filing with the Securities and Exchange Commission (SEC) in the second quarter. The purchase consisted of 1,979 shares of EXPD stock with an estimated value of approximately $240,000.
Expeditors International is a leading logistics service provider operating across multiple regions including the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers a wide range of services such as airfreight consolidation and forwarding, ocean freight and services, customs brokerage, ground transportation and delivery, warehousing and distribution services, as well as various supply chain solutions.
In terms of financial performance, on August 8th this year, Expeditors International reported their quarterly earnings data. For the quarter ending on that date, the company recorded earnings per share (EPS) of $1.30. This figure fell short of analysts’ consensus estimate by ($0.04), as they had projected an EPS of $1.34 for the quarter.
Furthermore, Expeditors International’s revenue for the same period amounted to $2.24 billion. However, this figure did not meet expectations either since analysts had anticipated revenue closer to $2.65 billion for that particular quarter. In comparison to the previous year’s figures during the same period when the company earned $2.27 per share on revenue considerations only accentuates these shortcomings further.
Despite these underperformance aspects outlined above from their most recent reporting period results obtained by Expeditors International’s management team also revealed some positive key highlights regarding their net margin and return on equity (ROE). The net margin noted was 8.36%, demonstrating a solid profitability measure for the organization. Additionally, the ROE stood at 34.31%, indicating strong returns generated from shareholders’ investments.
The decline in revenue of 51.3% on a year-over-year basis is a matter that should be considered within the context of the challenging business landscape currently faced by many industries globally. Expeditors International, like numerous other companies, has had to navigate through various market uncertainties and disruptions caused by factors such as the ongoing global pandemic, which has impacted trade and logistics operations significantly.
Looking forward, analysts have projected an expected earnings per share of 5.36 for Expeditors International of Washington, Inc. for the current fiscal year. These estimates would likely reflect the company’s efforts to adapt to ongoing market challenges while remaining resilient and strategic in their approach.
As Graypoint LLC enters into a new position with Expeditors International, it signifies confidence in the company’s long-term growth prospects despite recent financial setbacks. This investment could potentially position Graypoint LLC to benefit from any future improvements or successes achieved by Expeditors International.
Expeditors International’s extensive range of logistics services, combined with its established presence across different regions worldwide, places the company in a favorable position to capitalize on an eventual recovery and growth within the global transportation industry.
In conclusion, Expeditors International of Washington, Inc., has recently attracted interest from institutional investor Graypoint LLC. Despite posting lower-than-expected quarterly earnings figures and experiencing a decline in revenue compared to the previous year, the company remains focused on adapting to current market challenges while capitalizing on its diverse range of logistics services offered internationally.
Hedge Funds and Institutional Investors Increase Stakes in Expeditors International of Washington as Company’s Market Performance is Monitored
Expeditors International of Washington, a transportation company listed on NASDAQ under the ticker symbol EXPD, opened at $115.34 on Thursday. With a market capitalization of $17.06 billion, the company has garnered the attention of hedge funds and institutional investors alike.
One such investor, First Horizon Advisors Inc., increased its position in Expeditors International of Washington by 53.8% during the first quarter. After purchasing an additional 92 shares, First Horizon now holds a total of 263 shares valued at $29,000. Similarly, Raleigh Capital Management Inc. saw its position in the transportation company rise by 36.9% during the same period as it acquired an additional 93 shares worth $38,000.
Fisher Asset Management LLC also decided to boost its stake in Expeditors International of Washington by 0.5% during the first quarter. The investment firm now owns 18,349 shares valued at $2,021,000 after acquiring an additional 97 shares.
Raymond James Trust N.A., another institutional investor, increased its stake in Expeditors International of Washington by 1.8% during the first quarter as well. By purchasing an extra 100 shares, Raymond James Trust N.A.’s holdings now amount to 5,813 shares valued at $640,000.
Finally, Elo Mutual Pension Insurance Co added to their ownership by acquiring an additional 102 shares during the first quarter. This move resulted in a stake increase of 0.8%, bringing their total ownership to 12,766 shares worth $1,406,000.
It is noteworthy that hedge funds and other institutional investors currently own approximately 96.73% of Expeditors International of Washington’s stock.
In terms of performance indicators for Expeditors International of Washington on NASDAQ:EXPD up until October 5th – this stock showcased a price-to-earnings ratio of 17.29 and a beta of 1.01. Furthermore, the company experienced a 1-year range with a low of $86.12 and a high of $128.04.
The stock’s recent activity has been monitored by equities analysts who have provided their assessments on EXPD. JPMorgan Chase & Co., for instance, initiated coverage on Expeditors International of Washington with an “underweight” rating and set a price objective of $110.00 for the company.
Stephens, on the other hand, increased their price objective from $105.00 to $115.00 while maintaining an “equal weight” rating in their research note regarding Expeditors International of Washington.
Morgan Stanley expressed an “underweight” rating for the company as they lowered their price objective from $86 to $85.
Susquehanna maintained a “neutral” rating for Expeditors International of Washington and set a price objective of $115 which represents an increase from their previous target of $104.
Stifel Nicolaus, in their research note, stated that they had raised Expeditors International of Washington’s price target from $99 to $115 while maintaining a “hold” rating.
According to Bloomberg.com’s data, there is consensus among four investment analysts that rate the stock as a sell, while five analysts have assigned it a hold rating. The average target price for Expeditors International of Washington stands at $106.09 based on these ratings.
In conclusion, hedge funds and institutional investors have shown increased interest in Expeditors International of Washington as demonstrated by the additional shares they acquired during the first quarter. With stocks being traded on NASDAQ under ticker symbol EXPD, shareholders are keeping an eye on its market performance and responding accordingly to equities analyst reports and recommendations for both buying or selling orders.