C.H. Robinson Worldwide (NASDAQ:CHRW) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.
A number of other equities analysts have also weighed in on the company. UBS Group upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Monday, April 16th. BidaskClub lowered C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, April 20th. JPMorgan Chase & Co. upgraded C.H. Robinson Worldwide from an “underweight” rating to a “neutral” rating and set a $71.00 price objective on the stock in a research report on Wednesday, July 11th. Stephens lowered C.H. Robinson Worldwide from an “overweight” rating to an “equal weight” rating and set a $89.00 price objective on the stock. in a research report on Friday, May 4th. Finally, Credit Suisse Group reduced their price objective on C.H. Robinson Worldwide from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $93.50.
Shares of NASDAQ CHRW opened at $96.07 on Thursday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.30 and a current ratio of 1.81. C.H. Robinson Worldwide has a twelve month low of $65.55 and a twelve month high of $100.18.
C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Tuesday, July 31st. The transportation company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.18 billion. C.H. Robinson Worldwide had a return on equity of 38.81% and a net margin of 3.59%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. research analysts forecast that C.H. Robinson Worldwide will post 4.45 EPS for the current fiscal year.
C.H. Robinson Worldwide announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 10th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Michael John Short sold 4,527 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $96.12, for a total transaction of $435,135.24. Following the completion of the sale, the insider now directly owns 14,717 shares in the company, valued at approximately $1,414,598.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds have recently modified their holdings of CHRW. Piedmont Investment Advisors LLC purchased a new stake in C.H. Robinson Worldwide during the 2nd quarter valued at about $132,000. Sit Investment Associates Inc. boosted its holdings in C.H. Robinson Worldwide by 77.5% during the 2nd quarter. Sit Investment Associates Inc. now owns 1,775 shares of the transportation company’s stock valued at $148,000 after acquiring an additional 775 shares during the period. Cerebellum GP LLC purchased a new stake in C.H. Robinson Worldwide during the 2nd quarter valued at about $177,000. Institutional & Family Asset Management LLC purchased a new stake in C.H. Robinson Worldwide during the 1st quarter valued at about $184,000. Finally, Chicago Capital LLC purchased a new stake in C.H. Robinson Worldwide during the 2nd quarter valued at about $201,000. Institutional investors own 90.70% of the company’s stock.
C.H. Robinson Worldwide Company Profile
C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.
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