C.H. Robinson Worldwide (CHRW) Downgraded by Zacks Investment Research to Hold

C.H. Robinson Worldwide (NASDAQ:CHRW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Shares of C.H. Robinson have outperformed its industry in the last six months. The company's efforts to expand globally through mergers are impressive. The acquisition of Milgram & Company, completed in August 2017, is likely to boost the company's global presence and will be accretive this year. The company's efforts to reward shareholders through dividends and share buy backs are also encouraging. In December 2017, the company hiked its quarterly dividend by 2.2% to 46 cents per share (or $1.84 annually). However, the company is struggling with high costs. High costs are expected to hurt the company's bottom line in the fourth-quarter as was the case in the third quarter of 2017.  The company's high debt levels further adds to its woes.”

A number of other equities analysts also recently commented on the company. Bank of America upgraded C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $86.00 in a report on Tuesday, October 10th. Credit Suisse Group restated a “sell” rating and issued a $68.00 price objective (up previously from $63.00) on shares of C.H. Robinson Worldwide in a report on Thursday, October 12th. They noted that the move was a valuation call. Cowen upgraded C.H. Robinson Worldwide from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $87.00 in a report on Monday, October 16th. Oppenheimer restated a “hold” rating on shares of C.H. Robinson Worldwide in a report on Wednesday, November 1st. Finally, Stifel Nicolaus increased their price objective on C.H. Robinson Worldwide from $71.00 to $82.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $78.18.

C.H. Robinson Worldwide (NASDAQ CHRW) traded up $0.68 during trading hours on Monday, reaching $91.46. The company had a trading volume of 1,932,500 shares, compared to its average volume of 1,288,683. C.H. Robinson Worldwide has a 12-month low of $63.41 and a 12-month high of $92.41. The firm has a market capitalization of $12,750.00, a P/E ratio of 27.30, a P/E/G ratio of 2.77 and a beta of 0.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.55.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Tuesday, October 31st. The transportation company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. C.H. Robinson Worldwide had a return on equity of 36.06% and a net margin of 3.31%. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. equities analysts predict that C.H. Robinson Worldwide will post 3.34 earnings per share for the current year.

In other news, SVP James Lemke sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $79.98, for a total value of $1,199,700.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jordan T. Kass sold 1,738 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $78.75, for a total transaction of $136,867.50. Following the completion of the sale, the insider now owns 24,348 shares in the company, valued at approximately $1,917,405. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,903 shares of company stock worth $1,854,925. Corporate insiders own 0.85% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of C.H. Robinson Worldwide by 1.8% in the second quarter. Vanguard Group Inc. now owns 15,399,851 shares of the transportation company’s stock worth $1,057,661,000 after acquiring an additional 270,521 shares during the last quarter. BlackRock Inc. grew its stake in shares of C.H. Robinson Worldwide by 3.6% in the second quarter. BlackRock Inc. now owns 10,889,921 shares of the transportation company’s stock worth $747,922,000 after acquiring an additional 377,726 shares during the last quarter. Capital International Investors grew its stake in shares of C.H. Robinson Worldwide by 5.6% in the third quarter. Capital International Investors now owns 9,166,834 shares of the transportation company’s stock worth $697,596,000 after acquiring an additional 488,372 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of C.H. Robinson Worldwide by 51.4% in the third quarter. First Eagle Investment Management LLC now owns 6,370,010 shares of the transportation company’s stock worth $484,758,000 after acquiring an additional 2,161,520 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of C.H. Robinson Worldwide by 1.3% in the third quarter. Baillie Gifford & Co. now owns 5,184,766 shares of the transportation company’s stock worth $394,561,000 after acquiring an additional 68,050 shares during the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was first posted by Markets Daily and is the property of of Markets Daily. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.themarketsdaily.com/2018/01/10/c-h-robinson-worldwide-chrw-downgraded-by-zacks-investment-research-to-hold.html.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a provider of transportation services and logistics solutions through a network of offices operating in North America, Europe, Asia, Australia, New Zealand and South America. The Company’s segments include North American Surface Transportation (NAST), Global Forwarding, Robinson Fresh, and All Other and Corporate.

Get a free copy of the Zacks research report on C.H. Robinson Worldwide (CHRW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for C.H. Robinson Worldwide (NASDAQ:CHRW)

Receive News & Ratings for C.H. Robinson Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C.H. Robinson Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply