C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a hold rating to a buy rating in a research note published on Monday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on CHRW. Robert W. Baird decreased their price objective on shares of C.H. Robinson Worldwide from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Citigroup raised shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and cut their target price for the stock from $196.00 to $185.00 in a research report on Tuesday, September 8th. Citizens Jmp initiated coverage on C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $235.00 price target on the stock. Wolfe Research set a $196.00 price objective on C.H. Robinson Worldwide in a research report on Thursday, July 30th. Finally, Weiss Ratings cut C.H. Robinson Worldwide from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $196.56.

C.H. Robinson Worldwide Stock Up 0.8%

CHRW stock opened at $148.24 on Monday. C.H. Robinson Worldwide has a fifty-two week low of $123.64 and a fifty-two week high of $210.33. The business’s 50 day moving average price is $154.58 and its two-hundred day moving average price is $170.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.35 billion. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. As a group, analysts forecast that C.H. Robinson Worldwide will post 6.18 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. C.H. Robinson Worldwide’s payout ratio is presently 48.09%.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHRW. WCM Investment Management LLC bought a new position in shares of C.H. Robinson Worldwide in the first quarter worth approximately $579,922,000. Auto Owners Insurance Co raised its position in shares of C.H. Robinson Worldwide by 15,976.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,511,144 shares of the transportation company’s stock valued at $24,293,000 after purchasing an additional 1,501,744 shares during the period. Norges Bank bought a new stake in shares of C.H. Robinson Worldwide during the 4th quarter valued at $236,665,000. Capital World Investors purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at $165,976,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of C.H. Robinson Worldwide during the 2nd quarter valued at $172,626,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across road, rail, ocean and air networks.

Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air forwarding, customs and trade compliance, transportation management, warehousing and supply-chain consulting.