Expeditors International of Washington (EXPD) was Downgraded by BB&T Capital Mkts to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. BB&T Capital Mkts advised their investors in a research report released on Apr 21, 2016.
Many Wall Street Analysts have commented on Expeditors International of Washington. Company shares were Upgraded by Barclays on Apr 15, 2016 to ” Overweight”, Firm has raised the Price Target to $ 58 from a previous price target of $51 .Cowen Initiated Expeditors International of Washington on Mar 18, 2016 to “Market Perform”, Price Target of the shares are set at $53.
On the company’s financial health, Expeditors International of Washington reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.60. The company had revenue of $1596.20 million for the quarter, compared to analysts expectations of $1702.99 million. The company’s revenue was down -9.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.51 EPS.
Expeditors International of Washington closed down -0.04 points or -0.08% at $49.2 with 8,18,552 shares getting traded on Monday. Post opening the session at $49.07, the shares hit an intraday low of $48.85 and an intraday high of $49.42 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 10, 2016, Jeffrey S Musser (President and CEO) sold 9,460 shares at $47.42 per share price. According to the SEC, on Mar 9, 2016, Philip M Coughlin (President Global Geographies) sold 9,513 shares at $47.25 per share price. On Mar 8, 2016, Daniel R Wall (President, Global Products) sold 8,000 shares at $47.17 per share price, according to the Form-4 filing with the securities and exchange commission.
Expeditors International of Washington Inc. is engaged in the business of providing global logistics services. The Companys services include air and ocean freight transportation and customs brokerage. The Company also provides additional services including order management time-definite transportation warehousing and distribution cargo insurance and logistics solutions. The Company operates in Americas including the United States Other North America and Latin America; Asia Pacific; Europe and Middle East Africa and India. The Company provides airfreight services and acts either as a freight consolidator or as an agent for the airline which carries the shipment. The Company operates Expeditors International Ocean Inc. (EIO) an Ocean Transportation Intermediary also known as Non-Vessel Operating Common Carrier (NVOCC) which specializes in ocean freight services in trade lanes across the world.