C.H. Robinson Worldwide Given “Neutral” Rating at Zacks (CHRW)
C.H. Robinson Worldwide (NASDAQ:CHRW)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday, Stock Ratings News reports. They currently have a $64.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 5.09% from the stock’s previous close.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on C.H. Robinson. We believe that the company’s diverse array of customers, advanced technology and service levels, and brand value will help in winning market share over the long term. The company will gain through investments in complementary businesses like ocean air and customs. Further, the company also remains committed to increase shareholders value through constant share repurchases. Nevertheless, we prefer to stay on the sidelines as a competitive freight market, declining truckload market share and limited margin expansion opportunities pose as near-term headwinds. The increasing cost of transportation and higher integration cost will also weigh on the stock in the coming months. Hence, the company is expected to perform at par with the broader industry and we advise investors to hold on to the stock.”
C.H. Robinson Worldwide (NASDAQ:CHRW) traded up 0.30% during mid-day trading on Wednesday, hitting $60.90. 786,137 shares of the company’s stock traded hands. C.H. Robinson Worldwide has a 52-week low of $53.74 and a 52-week high of $67.93. The stock’s 50-day moving average is $57.90 and its 200-day moving average is $57.91. The company has a market cap of $9.704 billion and a price-to-earnings ratio of 16.60.
C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that C.H. Robinson Worldwide will post $2.80 EPS for the current fiscal year.
A number of other firms have also recently commented on CHRW. Analysts at Macquarie downgraded shares of C.H. Robinson Worldwide from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, October 7th. They now have a $54.00 price target on the stock, down previously from $59.50. Separately, analysts at RBC Capital downgraded shares of C.H. Robinson Worldwide from a “sector perform” rating to an “underperform” rating in a research note to investors on Monday, September 30th. They now have a $58.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of C.H. Robinson Worldwide in a research note to investors on Tuesday, August 27th. They now have a $60.00 price target on the stock, up previously from $59.00. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. C.H. Robinson Worldwide presently has an average rating of “Hold” and a consensus price target of $59.86.
C.H. Robinson Worldwide, Inc (NASDAQ:CHRW) is a third party logistics company.
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