Expeditors tops estimates as institutional investors add positions
What's the deal? Expeditors InternationalDealroom has a profile for this one. Try Dealroom → reported $2.03 earnings per share for the quarter ended August 4, beating the consensus estimate of $1.69 by $0.34. That marked a jump from $1.34 a share in the same period a year earlier.
The numbers: The transportation company posted a net margin of 7.64% and a return on equity of 36.16%. Its stock opened at $186.65 on Friday, near a 52-week high of $189.99 and well above the low of $112.94, giving Expeditors a market cap of $24.26 billion.
What it does: Expeditors is a Seattle-based logistics and freight forwarding company, arranging air and ocean shipping and related supply-chain services. It trades on the Nasdaq under the ticker EXPD.
Who's buying? Portfolio Design Labs acquired a new position of 7,296 shares worth about $1,189,000 in the second quarter, according to its latest 13F filing with the Securities and Exchange CommissionDealroom has a profile for this one. Try Dealroom →. Several other funds added to holdings, including Eurizon CapitalDealroom has a profile for this one. Try Dealroom →, which took a new stake valued at $32,004,000. Institutional investors own 94.02% of the stock.
What Wall Street thinks: Analysts are split. Two rate the stock strong buy, two buy, six hold, and three sell, for an average rating of “Hold” and a target price of $168.78 — below the current share price.
Why now? The earnings beat lands amid a wave of rating changes. JPMorgan ChaseDealroom has a profile for this one. Try Dealroom → lifted Expeditors from “underweight” to “neutral” with a $200.00 target on August 5, while StephensDealroom has a profile for this one. Try Dealroom → and Zacks Investment ResearchDealroom has a profile for this one. Try Dealroom → both moved the stock to “strong-buy” earlier in the year.
The signal: Expeditors’ earnings beat and climb toward record share levels reflect renewed institutional appetite for logistics names, even as analyst targets suggest the stock may already be running ahead of consensus value.
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