The National Bank of Canada FI has recently revealed a drop in its stake in Expeditors International of Washington, Inc. (EXPD), amounting to 4.9% in the fourth quarter. According to the financial institution’s recent Form 13F filing with the Securities and Exchange Commission (SEC), it held a total of 20,924 shares before the slump, shedding off 1,086 shares at the time of filing. At present, National Bank of Canada FI’s holdings in EXPD are valued at $2,174,000 as reported from their latest disclosure.
EXPD recently released its quarterly earnings data last February 21st wherein it showed earnings per share (EPS) totaling to $1.38 for that period alone – this unfortunately missed analysts’ expected EPS consensus of $2.09 by ($0.71). The company revealed a net margin of 7.95%, whereas its return on equity amounted to an impressive rate of 38.81%. Further analyses show that EXPD earned a revenue amounting to $3.44 billion for its latest quarter compared to the estimated $4.17 billion sales revenue suggested by most analysts.
Established as a global logistics service provider, Expeditors International of Washington offers air freight and ocean freight services alongside customs brokerage services and various customer solutions for order management such as temperature-controlled transit, warehousing and distribution and cargo insurance among others.
Overall EXPD’s future performance is still critical amidst the pressing concerns brought about by supply chain disruptions due to COVID-19 restrictions in various countries worldwide. Nevertheless, given EXPD’s impressive track record over time and reliable reputation within the industry it would not take long before analysts expect them to bounce back into their former prominence within global logistics service providers industry once again.and customized logistic solutions provided through their products and services offerings.
Experts foresee hard times ahead for Expedited International given Covid-19 related commerce problems all over the globe. Despite being one of the top-notch performers in the industry, EXPD cannot escape repercussions brought about by various Covid-19 restrictions worldwide. Despite this, it is just a matter of time until EXPD regains its standing within its chosen business sector not only in Washington state but across other leading financial centers globally.
Expeditors International of Washington: Attracting Investor Interest with Customer-Focused Logistics Services
Expeditors International of Washington: A Global Leader in Logistics Services
Expeditors International of Washington, Inc., a global logistics provider, has been attracting attention from investors as well as industry experts. The company provides comprehensive logistics solutions that include air freight, ocean freight, customs brokerage, warehousing and distribution, and cargo insurance. The company’s customer-focused approach has helped it establish a reputation for delivering efficient, reliable and cost-effective services.
The company’s impressive portfolio of clients includes some of the world’s top retailers, e-commerce companies and manufacturers. Its global network covers six continents and is designed to offer streamlined supply chain management across diverse industries.
Investment Firms Make Strategic Moves
Recently Accurate Wealth Management LLC acquired a new stake worth $26,000 in shares of Expeditors International of Washington during the fourth quarter. Other firms including Allworth Financial LP, Covestor Ltd and BDO Wealth Advisors LLC also increased their positions in the transportation company’s stock by adding additional shares during the period. Migdal Insurance & Financial Holdings Ltd also purchased new position worth $51,000 in the fourth quarter. These strategic moves exemplify growing interest among investment firms who are targeting businesses with strong growth potential.
Expeditors International of Washington’s Market Performance
Shares in Expeditors International opened at $105.35 on Monday with a market cap of $16.27 billion. Its 50 day moving average stands at $108.68 now while its 200 day moving average is $105.09. The firm offers a beta factor of 1.00 which suggests that its share price is likely to follow market movement.
CEO Jeffrey S Musser Sold Shares
In other Expeditors International news; CEO Jeffrey S Musser sold 10k shares on Wednesday March 8th at an average price of $109.76 raising almost $1 million thereby taking his total stake down to 137k shares worth $15m.
Equities Analysts’ Ratings
Several equities analysts have weighed in on the performance of Expeditors International of Washington. Morgan Stanley reduced its price target from $87 to $86 and recommended an “underweight” rating. Wells Fargo & Company upgraded their rating by increasing their price target from $95 to $100 albeit with an “underweight” rating. Meanwhile, Cowen dropped Expeditors International of Washington’s price target from $122 to $108. StockNews.com has rated a “hold” on the stock while four investment analysts offer a sell rating with two hold ratings.
Expeditors International of Washington has been one of the leading global service providers in logistics industry with customer-centric approach that maintains reliability, efficiency and cost-effectiveness as hallmarks of its services. Investors are drawn towards businesses with innovative solutions and strong track records resulting in these strategic moves by investment firms for acquiring shares. With significant institutional investor holdings, Expeditors International has solid backing for future plans and growth potential in expanding sectors that bode well for its future prospects.