C.H. Robinson Worldwide (NASDAQ:CHRW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports. They presently have a $84.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 4.84% from the stock’s previous close.
According to Zacks, “Akin to the past few quarters, C.H. Robinson’s fourth-quarter 2019 performance might have been hurt by bleak revenues due to the weak pricing and soft freight volumes. Notably, revenues declined 7.8% year over year in the first nine months of 2019, due to volume softness. In the global forwarding market, the company is witnessing air and ocean volume declines due to weak demand on account of the trade tensions. Amid bleak freight scenario, excess truck capacity has been weighing on the company’s truckload volumes. C.H. Robinson’s high capital expenditures are an added concern. However, we are impressed with C.H. Robinson’s efforts to reward its shareholders through dividends and buybacks. We are encouraged by the company’s growth-by-acquisition policy too. The company’s efforts to control debts are encouraging as well.”
Several other research firms have also weighed in on CHRW. Barclays reissued a “hold” rating and set a $95.00 price objective on shares of C.H. Robinson Worldwide in a research note on Thursday, October 3rd. Bank of America lowered shares of C.H. Robinson Worldwide from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $89.00 to $80.00 in a research note on Wednesday, October 30th. Wolfe Research raised shares of C.H. Robinson Worldwide from a “peer perform” rating to an “outperform” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of C.H. Robinson Worldwide from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Finally, BidaskClub lowered shares of C.H. Robinson Worldwide from a “hold” rating to a “sell” rating in a research note on Saturday, December 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. C.H. Robinson Worldwide has an average rating of “Hold” and an average price target of $85.27.
Shares of NASDAQ CHRW opened at $80.12 on Thursday. The firm’s 50-day moving average is $77.17 and its 200-day moving average is $81.72. C.H. Robinson Worldwide has a 1 year low of $74.12 and a 1 year high of $92.72. The firm has a market capitalization of $10.74 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.75.
C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.07). C.H. Robinson Worldwide had a return on equity of 40.43% and a net margin of 4.25%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that C.H. Robinson Worldwide will post 4.44 earnings per share for the current fiscal year.
In related news, CEO Robert C. Biesterfeld, Jr. purchased 665 shares of the business’s stock in a transaction on Friday, November 1st. The shares were purchased at an average price of $75.15 per share, with a total value of $49,974.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Michael W. Neill sold 671 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $74.63, for a total transaction of $50,076.73. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CHRW. Valeo Financial Advisors LLC lifted its stake in C.H. Robinson Worldwide by 813.5% in the third quarter. Valeo Financial Advisors LLC now owns 338 shares of the transportation company’s stock valued at $29,000 after buying an additional 301 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in C.H. Robinson Worldwide in the third quarter valued at approximately $47,000. CSat Investment Advisory L.P. lifted its stake in C.H. Robinson Worldwide by 116.4% in the second quarter. CSat Investment Advisory L.P. now owns 593 shares of the transportation company’s stock valued at $50,000 after buying an additional 319 shares in the last quarter. Assetmark Inc. raised its holdings in shares of C.H. Robinson Worldwide by 52.4% in the second quarter. Assetmark Inc. now owns 608 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 209 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of C.H. Robinson Worldwide by 63.0% in the second quarter. Captrust Financial Advisors now owns 970 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 375 shares during the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.
C.H. Robinson Worldwide Company Profile
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 North American Surface Transportation and Global Forwarding segments. 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 that include the 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 offers door-to-door services.
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