BELLEVUE, WA—Robert Paul Carlile, a director at Expeditors International (NYSE:EXPD) of Washington Inc. (NASDAQ:EXPD), recently sold 3,000 shares of the company's common stock. The shares were sold at an average price of $121.11, totaling approximately $363,331. According to InvestingPro data, the company currently trades near its Fair Value, with a market capitalization of $16.9 billion and strong financial health metrics. Following this transaction, Carlile retains ownership of 9,662 shares in the logistics company. This sale is part of Carlile's ongoing management of his investment in the company, which is renowned for its global logistics and freight forwarding services. The company maintains a solid financial position with more cash than debt on its balance sheet and has consistently raised its dividend for 28 consecutive years. InvestingPro subscribers can access 10+ additional insights and detailed financial metrics in the comprehensive Pro Research Report.
In other recent news, Expeditors International of Washington, Inc. has been a topic of interest for analysts. The company's third-quarter performance exceeded market expectations, primarily propelled by its Ocean segment, according to TD Cowen. The firm has raised the price target for Expeditors International from $106 to $108, while maintaining a Sell rating on the stock. This decision came after the company's Air segment also showed significant benefits from robust e-commerce activity originating from Asia.
However, TD Cowen has expressed caution regarding the company's future, citing potential industry challenges that could impact its performance. The firm anticipates a return to pre-pandemic margin levels for Expeditors International, as issues such as a short-lived port strike and adaptation to Red Sea congestion are resolved. Despite these recent developments, TD Cowen has downgraded the stock rating from 'Hold' to 'Sell' and reduced the price target from $112 to $106, reflecting a more cautious outlook on the company's future.
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