TD Cowen Forecasts Strong Price Appreciation for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target increased by equities research analysts at TD Cowen from $138.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target would indicate a potential downside of 3.38% from the stock’s previous close.

Several other equities research analysts have also weighed in on CHRW. Wolfe Research reissued an “outperform” rating and set a $188.00 price objective on shares of C.H. Robinson Worldwide in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on C.H. Robinson Worldwide from $124.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley lifted their price target on C.H. Robinson Worldwide from $77.00 to $85.00 and gave the stock an “underweight” rating in a research note on Monday, December 8th. Weiss Ratings restated a “buy (b-)” rating on shares of C.H. Robinson Worldwide in a report on Monday, December 29th. Finally, Truist Financial upped their price objective on shares of C.H. Robinson Worldwide from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.35.

C.H. Robinson Worldwide Stock Up 2.9%

NASDAQ CHRW opened at $170.77 on Friday. C.H. Robinson Worldwide has a 12 month low of $84.68 and a 12 month high of $170.81. The company has a market capitalization of $20.17 billion, a P/E ratio of 34.64, a PEG ratio of 1.84 and a beta of 0.91. The company’s 50 day simple moving average is $158.39 and its 200 day simple moving average is $133.26. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.26 billion. C.H. Robinson Worldwide had a net margin of 3.64% and a return on equity of 34.77%. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Equities research analysts expect that C.H. Robinson Worldwide will post 4.83 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael D. Castagnetto sold 45,266 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $151.70, for a total transaction of $6,866,852.20. Following the transaction, the insider directly owned 34,046 shares of the company’s stock, valued at approximately $5,164,778.20. The trade was a 57.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 49,884 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $149.71, for a total transaction of $7,468,133.64. Following the completion of the transaction, the insider owned 65,728 shares in the company, valued at approximately $9,840,138.88. This represents a 43.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,540 shares of company stock worth $14,721,951 in the last 90 days. Company insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

A number of hedge funds have recently modified their holdings of CHRW. New York State Teachers Retirement System increased its holdings in C.H. Robinson Worldwide by 12.8% in the 2nd quarter. New York State Teachers Retirement System now owns 100,735 shares of the transportation company’s stock valued at $9,666,000 after buying an additional 11,443 shares during the period. Norges Bank acquired a new stake in shares of C.H. Robinson Worldwide during the 2nd quarter valued at about $118,976,000. Brighton Jones LLC bought a new stake in C.H. Robinson Worldwide in the third quarter valued at about $1,335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in C.H. Robinson Worldwide by 118.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,905 shares of the transportation company’s stock valued at $3,472,000 after acquiring an additional 18,390 shares during the period. Finally, Oak Thistle LLC acquired a new position in C.H. Robinson Worldwide in the third quarter worth about $999,000. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.