C.H. Robinson Worldwide Shares Gap Up on Strong Earnings (CHRW)
C.H. Robinson Worldwide (NASDAQ:CHRW)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement, StockRatingsNetwork.com reports. The stock had previously closed at $64.29, but opened at $64.41. C.H. Robinson Worldwide shares last traded at $66.93, with a volume of 2,698,948 shares traded.
The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.77 by $0.03. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
A number of research firms have recently commented on CHRW. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of C.H. Robinson Worldwide in a research note on Wednesday. They now have a $68.00 price target on the stock, up previously from $60.00. Separately, analysts at Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $68.00 price target on the stock, up previously from $52.00. Finally, analysts at Deutsche Bank raised their price target on shares of C.H. Robinson Worldwide from $59.00 to $62.00 in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. C.H. Robinson Worldwide currently has a consensus rating of “Hold” and a consensus price target of $61.69.
In other C.H. Robinson Worldwide news, VP Tom Mahlke sold 4,532 shares of C.H. Robinson Worldwide stock on the open market in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $294,580.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $63.94 and its 200-day moving average is $57.80. The company has a market cap of $10.172 billion and a P/E ratio of 24.43.
C.H. Robinson Worldwide, Inc (NASDAQ:CHRW) is a third party logistics company.
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