C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price Expected to Rise, Bank of America Analyst Says

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target lifted by equities researchers at Bank of America from $167.00 to $182.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would indicate a potential upside of 10.22% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Benchmark reissued a “buy” rating on shares of C.H. Robinson Worldwide in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on C.H. Robinson Worldwide from $155.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets restated a “market perform” rating and issued a $140.00 price target on shares of C.H. Robinson Worldwide in a report on Thursday, October 30th. Evercore ISI lifted their price objective on C.H. Robinson Worldwide from $155.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Cowen reiterated a “hold” rating on shares of C.H. Robinson Worldwide in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.48.

C.H. Robinson Worldwide Trading Up 0.3%

CHRW opened at $165.13 on Wednesday. C.H. Robinson Worldwide has a fifty-two week low of $84.68 and a fifty-two week high of $167.90. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a 50 day simple moving average of $149.73 and a 200 day simple moving average of $127.05.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.29 by $0.11. C.H. Robinson Worldwide had a net margin of 3.64% and a return on equity of 34.77%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that C.H. Robinson Worldwide will post 4.83 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael D. Castagnetto sold 45,266 shares of C.H. Robinson Worldwide stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $151.70, for a total value of $6,866,852.20. Following the completion of the transaction, the insider owned 34,046 shares of the company’s stock, valued at $5,164,778.20. This trade represents a 57.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela K. Freeman sold 49,884 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 65,728 shares in the company, valued at approximately $9,840,138.88. The trade was a 43.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Compound Planning Inc. increased its holdings in shares of C.H. Robinson Worldwide by 16.3% during the 1st quarter. Compound Planning Inc. now owns 3,599 shares of the transportation company’s stock worth $369,000 after acquiring an additional 504 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of C.H. Robinson Worldwide by 0.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,600 shares of the transportation company’s stock valued at $2,314,000 after purchasing an additional 146 shares during the period. Jump Financial LLC boosted its holdings in shares of C.H. Robinson Worldwide by 86.7% during the 1st quarter. Jump Financial LLC now owns 4,420 shares of the transportation company’s stock worth $453,000 after buying an additional 2,052 shares during the period. Comerica Bank grew its stake in C.H. Robinson Worldwide by 3.2% in the 1st quarter. Comerica Bank now owns 36,798 shares of the transportation company’s stock valued at $3,768,000 after buying an additional 1,140 shares during the last quarter. Finally, FORA Capital LLC bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at about $812,000. 93.15% of the stock is currently owned by institutional investors.

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.