Long Position on EXPD @ $118.00 on 5/14/2021 (Momentum)

Expeditors International of Washington, Inc. (EXPD) provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India.

The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions. It acts as a freight consolidator or as an agent for the airline, which carries the shipment.

The company also provides ancillary services that include preparation of shipping and customs documentation, packing, crating, insurance services, negotiation of letters of credit, and the preparation of documentation to comply with local export laws.

Its customers include retailing and wholesaling, electronics, technology, and industrial and manufacturing companies.

Expeditors Intl reported 1st Quarter March 2021 earnings of $1.67 per share on revenue of $3.4 billion. The consensus earnings estimate was $1.00 per share on revenue of $2.6 billion. Revenue grew 76.5% on a year-over-year basis.

With its recent earnings report, this stock is shaping up to be very strong for shareholders and the momentum as should continue as investors raise earnings targets.

Entry Point: $118.00

Stop Loss: $112.00

Trading Range: $31.38 - $83.29

Target Price: $129.00

Updates

6/23/2021 10:18:57 AM

EXPD closed at $125.50

Position closed on 6/23/2021 at price of $125.50 with a 6.36% gain in 40 days.

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