C.H. Robinson Worldwide (NASDAQ:CHRW) Hits New 1-Year High Following Analyst Upgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s stock price hit a new 52-week high on Thursday after Truist Financial raised their price target on the stock from $210.00 to $215.00. Truist Financial currently has a buy rating on the stock. C.H. Robinson Worldwide traded as high as $208.70 and last traded at $204.1890, with a volume of 395050 shares. The stock had previously closed at $197.50.

A number of other equities analysts have also weighed in on the stock. Barclays increased their target price on shares of C.H. Robinson Worldwide from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on C.H. Robinson Worldwide from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Bank of America decreased their price objective on C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, C.H. Robinson Worldwide has a consensus rating of “Moderate Buy” and a consensus price target of $198.62.

C.H. Robinson Worldwide News Summary

Here are the key news stories impacting C.H. Robinson Worldwide this week:

• Positive Sentiment: Truist Financial raised its price target on C.H. Robinson Worldwide to $215 from $210 and maintained a buy rating, suggesting more upside from current levels. C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target Raised to $215.00 at Truist Financial
• Positive Sentiment: Stifel Nicolaus also increased its price target to $215 from $207 and kept a buy rating, reinforcing the view that CHRW can continue to outperform. Read More
• Positive Sentiment: Citizens JMP initiated coverage with a market perform rating and a $235 price target, which is above the current trading level and may support investor sentiment. C.H. Robinson Worldwide (NASDAQ:CHRW) Now Covered by Analysts at Citizens Jmp
• Neutral Sentiment: Susquehanna issued a positive forecast for C.H. Robinson Worldwide, adding to the overall favorable analyst tone around the stock. Susquehanna Issues Positive Forecast for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price
• Neutral Sentiment: Zacks highlighted CHRW in a value comparison with ZTO Express, which is informational rather than a direct company catalyst. ZTO vs. CHRW: Which Stock Is the Better Value Option?
• Neutral Sentiment: MarketWatch noted CHRW underperformed peers on Monday despite gains, but this is more a relative-performance observation than a fresh catalyst. C.H. Robinson Worldwide Inc. stock underperforms Monday when compared to competitors despite daily gains

Institutional Trading of C.H. Robinson Worldwide

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Jackson Hole Trust purchased a new stake in shares of C.H. Robinson Worldwide in the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of C.H. Robinson Worldwide during the 3rd quarter valued at about $27,000. Millstone Evans Group LLC grew its position in C.H. Robinson Worldwide by 79.8% in the 1st quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company’s stock worth $27,000 after purchasing an additional 71 shares during the period. DV Equities LLC purchased a new stake in C.H. Robinson Worldwide during the fourth quarter valued at $27,000. Finally, CYBER HORNET ETFs LLC bought a new stake in C.H. Robinson Worldwide during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Up 4.0%

The company’s 50-day simple moving average is $182.28 and its two-hundred day simple moving average is $178.86. The firm has a market capitalization of $24.22 billion, a P/E ratio of 41.51, a P/E/G ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.11. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business earned $1.17 earnings per share. C.H. Robinson Worldwide’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that C.H. Robinson Worldwide, Inc. will post 6.11 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. C.H. Robinson Worldwide’s payout ratio is 51.01%.

About C.H. Robinson Worldwide

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.