C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target Cut to $219.00 by Analysts at Bank of America

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective reduced by stock analysts at Bank of America from $225.00 to $219.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 33.21% from the stock’s current price.

A number of other analysts have also recently weighed in on CHRW. Sanford C. Bernstein raised their price objective on shares of C.H. Robinson Worldwide from $135.00 to $153.00 and gave the stock a “market perform” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $200.00 target price on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Raymond James Financial reiterated an “outperform” rating and set a $215.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Morgan Stanley boosted their price target on shares of C.H. Robinson Worldwide from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Thursday, January 29th. Finally, Loop Capital set a $206.00 price objective on shares of C.H. Robinson Worldwide in a research note on Monday, February 2nd. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.83.

C.H. Robinson Worldwide Trading Down 1.9%

NASDAQ CHRW traded down $3.26 during trading on Friday, hitting $164.40. The stock had a trading volume of 236,068 shares, compared to its average volume of 2,302,074. The company has a market capitalization of $19.50 billion, a PE ratio of 34.04, a PEG ratio of 1.79 and a beta of 0.90. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $181.56 and a 200 day moving average price of $159.47. C.H. Robinson Worldwide has a twelve month low of $84.68 and a twelve month high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. As a group, equities research analysts forecast that C.H. Robinson Worldwide will post 4.83 earnings per share for the current year.

Insider Activity at C.H. Robinson Worldwide

In other news, insider Arun Rajan acquired 605 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $167.11 per share, with a total value of $101,101.55. Following the purchase, the insider owned 133,656 shares of the company’s stock, valued at $22,335,254.16. This represents a 0.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Castagnetto bought 594 shares of C.H. Robinson Worldwide stock in a transaction dated Thursday, February 12th. The stock was purchased at an average price of $168.24 per share, with a total value of $99,934.56. Following the purchase, the insider directly owned 35,488 shares in the company, valued at approximately $5,970,501.12. This trade represents a 1.70% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 2,422 shares of company stock worth $400,801 and sold 21,416 shares worth $4,157,630. Insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

A number of large investors have recently made changes to their positions in CHRW. Vestcor Inc raised its position in shares of C.H. Robinson Worldwide by 0.8% during the 4th quarter. Vestcor Inc now owns 6,403 shares of the transportation company’s stock worth $1,029,000 after purchasing an additional 51 shares during the last quarter. Horizon Investments LLC grew its holdings in C.H. Robinson Worldwide by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,950 shares of the transportation company’s stock valued at $313,000 after buying an additional 58 shares during the last quarter. Signaturefd LLC increased its position in C.H. Robinson Worldwide by 3.6% during the fourth quarter. Signaturefd LLC now owns 1,700 shares of the transportation company’s stock worth $273,000 after buying an additional 59 shares in the last quarter. Brendel Financial Advisors LLC increased its position in C.H. Robinson Worldwide by 2.2% during the fourth quarter. Brendel Financial Advisors LLC now owns 2,896 shares of the transportation company’s stock worth $466,000 after buying an additional 61 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of C.H. Robinson Worldwide by 2.8% in the third quarter. Jones Financial Companies Lllp now owns 2,563 shares of the transportation company’s stock worth $338,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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.