Zacks Investment Research cut shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “C.H. Robinson's growth-by-acquisition policy is commendable, as it has expanded its product portfolio significantly. We are also impressed by the company's efforts to reward shareholders in the form of dividends and share buybacks. Improvement in operating ratio is an added positive. The lesser the value of operating ratio the better, as it implies that more cash is available to the company to reward shareholders through dividends/buybacks. Moreover, shares of the company have outperformed its industry in a year's time. However, high costs are limiting bottom-line growth. Apart from high purchased transportation costs, capital expenditures undertaken by the company are pressurizing the bottom line. The company's high debt levels are also concerning.”
Several other equities research analysts have also recently commented on CHRW. BidaskClub raised C.H. Robinson Worldwide from a sell rating to a hold rating in a report on Tuesday, November 27th. Bank of America cut C.H. Robinson Worldwide from a buy rating to a neutral rating in a report on Thursday, August 9th. Citigroup dropped their target price on C.H. Robinson Worldwide from $111.00 to $102.00 and set a buy rating on the stock in a report on Wednesday, October 31st. Wells Fargo & Co boosted their target price on C.H. Robinson Worldwide from $92.00 to $97.00 and gave the stock a market perform rating in a report on Wednesday, August 22nd. Finally, Morgan Stanley set a $67.00 target price on C.H. Robinson Worldwide and gave the stock a sell rating in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $97.13.
C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Tuesday, October 30th. The transportation company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.08. C.H. Robinson Worldwide had a return on equity of 41.22% and a net margin of 3.83%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, analysts anticipate that C.H. Robinson Worldwide will post 4.57 earnings per share for the current fiscal year.
In other C.H. Robinson Worldwide news, insider Ben G. Campbell sold 4,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $100.00, for a total value of $400,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC increased its holdings in shares of C.H. Robinson Worldwide by 27,368.4% in the third quarter. Clearbridge Investments LLC now owns 436,748 shares of the transportation company’s stock valued at $42,766,000 after buying an additional 435,158 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of C.H. Robinson Worldwide by 3.1% in the third quarter. Vanguard Group Inc. now owns 16,437,440 shares of the transportation company’s stock valued at $1,609,555,000 after buying an additional 491,114 shares in the last quarter. Morgan Stanley increased its holdings in shares of C.H. Robinson Worldwide by 16.5% in the third quarter. Morgan Stanley now owns 711,089 shares of the transportation company’s stock valued at $69,630,000 after buying an additional 100,673 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of C.H. Robinson Worldwide by 1.1% in the third quarter. Legal & General Group Plc now owns 818,822 shares of the transportation company’s stock valued at $80,172,000 after buying an additional 9,211 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its holdings in shares of C.H. Robinson Worldwide by 5.9% in the third quarter. Standard Life Aberdeen plc now owns 62,382 shares of the transportation company’s stock valued at $6,109,000 after buying an additional 3,464 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.
About C.H. Robinson Worldwide
C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.
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