Bank of America Trims C.H. Robinson Worldwide (NASDAQ:CHRW) Target Price to $68.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective cut by Bank of America from $70.00 to $68.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an underperform rating on the transportation company’s stock.

Several other equities analysts also recently issued reports on CHRW. BNP Paribas restated a neutral rating and set a $76.00 price objective on shares of C.H. Robinson Worldwide in a report on Wednesday, March 27th. Barclays reiterated an underweight rating and issued a $65.00 target price (down previously from $80.00) on shares of C.H. Robinson Worldwide in a research report on Monday, April 1st. Wells Fargo & Company dropped their target price on C.H. Robinson Worldwide from $80.00 to $70.00 and set an underweight rating on the stock in a research report on Thursday, February 1st. Wolfe Research upgraded C.H. Robinson Worldwide from an underperform rating to a peer perform rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets dropped their target price on C.H. Robinson Worldwide from $90.00 to $85.00 and set a market perform rating on the stock in a research report on Thursday, February 1st. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of Hold and an average price target of $81.21.

C.H. Robinson Worldwide Stock Performance

CHRW opened at $69.01 on Monday. C.H. Robinson Worldwide has a 52-week low of $68.47 and a 52-week high of $106.14. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.00. The company has a market cap of $8.07 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 3.55 and a beta of 0.72. The firm’s 50-day moving average price is $73.32 and its 200-day moving average price is $80.39.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). C.H. Robinson Worldwide had a net margin of 1.85% and a return on equity of 27.61%. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.35 billion. As a group, equities analysts anticipate that C.H. Robinson Worldwide will post 3.31 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.61 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.44 annualized dividend and a yield of 3.54%. C.H. Robinson Worldwide’s dividend payout ratio is presently 90.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHRW. Penserra Capital Management LLC purchased a new position in shares of C.H. Robinson Worldwide during the 1st quarter valued at approximately $30,000. Montag A & Associates Inc. purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at approximately $30,000. Quarry LP purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at approximately $30,000. Larson Financial Group LLC purchased a new position in shares of C.H. Robinson Worldwide during the 3rd quarter valued at approximately $31,000. Finally, Pacific Center for Financial Services purchased a new position in shares of C.H. Robinson Worldwide during the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.