Expeditors International of Washington (EXPD) is Downgraded by Stifel to Hold

Expeditors International of Washington (EXPD) was Downgraded by Stifel to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Expeditors International of Washington reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $1475.20 million for the quarter, compared to analysts expectations of $1531.36 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.62 EPS.

Expeditors International of Washington opened for trading at $50 and hit $52.58 on the upside on Tusday, eventually ending the session at $51.29, with a gain of 3.43% or 1.7 points. The heightened volatility saw the trading volume jump to 31,67,835 shares. Company has a market cap of $9,338 M.

In a different news, on Jun 2, 2016, Eugene K Alger (Executive VP Global Services) sold 12,460 shares at $48.50 per share price. According to the SEC, on May 27, 2016, Daniel R Wall (President, Global Products) sold 10,000 shares at $48.97 per share price. On Mar 10, 2016, Jeffrey S Musser (President and CEO) sold 9,460 shares at $47.42 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 Company’s 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.

Expeditors International of Washington

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