Expeditors International of Washington Inc. (EXPD) shares reached an all-time high of $190.08 on Friday, extending a 57% gain over the past 12 months as the logistics company outperformed earnings expectations.
The Seattle-based firm reported second-quarter earnings per share of $2.03, exceeding the consensus estimate of $1.69, according to Bank of America Securities. The company’s market capitalization stands at approximately $24.6 billion, with a trailing price-to-earnings ratio of 27.56.
Analysts at UBS raised their price target to $210 while maintaining a Buy rating, citing the company’s execution in a difficult forwarding environment. Bank of America Securities increased its target to $189, and Stifel adjusted its forecast to $158. The stock remains 1% below its 52-week high.
Bank of America noted that Expeditors implemented a restructuring initiative involving 230 job cuts in the Seattle area as part of a broader technology-focused overhaul. The company also expanded its Aircraft on Ground (AOG) logistics services, introducing 24/7 support centers and strengthening its global network to better serve aviation and aerospace clients.
Stifel highlighted positive trends in airfreight and customs operations, though ocean freight continues to face challenges due to capacity constraints and volume issues. InvestingPro analysis indicated the stock is trading above fair value, suggesting investors are pricing in expectations for sustained growth.
