A level of support has formed in the chart of Expeditors International of Washington (NASDAQ:EXPD). If the stock falls through this level, a breakdown is expected. Read more to learn how to profit from this trade.Expeditors International of Washington (EXPD) is a non-asset-based third-party logistics provider, mainly focused on international freight forwarding. It employs sophisticated IT systems and contracts with airlines and steamship carriers to move customers' freight across the globe.
The company is benefiting from an increase in airfreight revenues. Its Airfreight Services revenues increased 48% year over year in first-half of the year. The firm's acquisition of Fleet Logistics’ Digital Platform also bodes well as it has boosted the company’s online LTL shipping platform, Koho.
EXPD has a current ratio of 2.0 and a debt-to-equity ratio of 0.2. This indicates that it has more than enough liquidity to handle short-term obligations and that its debt level is manageable. These figures have led to a Quality Grade of B in our POWR Ratings system.