C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price Expected to Rise, Bank of America Analyst Says

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price upped by equities research analysts at Bank of America from $106.00 to $117.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 16.67% from the company’s current price.

CHRW has been the topic of several other reports. Stifel Nicolaus upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Friday, January 31st. UBS Group lowered their price target on shares of C.H. Robinson Worldwide from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Barclays lowered their price target on shares of C.H. Robinson Worldwide from $100.00 to $90.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on shares of C.H. Robinson Worldwide from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Truist Financial assumed coverage on shares of C.H. Robinson Worldwide in a research report on Thursday, March 13th. They set a “buy” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.29.

C.H. Robinson Worldwide Price Performance

Shares of CHRW opened at $100.28 on Friday. The firm has a market capitalization of $11.91 billion, a PE ratio of 26.05, a PEG ratio of 1.16 and a beta of 0.92. The company’s 50-day moving average is $94.15 and its 200-day moving average is $100.64. C.H. Robinson Worldwide has a fifty-two week low of $81.39 and a fifty-two week high of $114.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Wednesday, April 30th. The transportation company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.15. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.29 billion. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 34.53%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Equities analysts forecast that C.H. Robinson Worldwide will post 4.83 EPS for the current year.

Insider Activity

In other news, insider Angela K. Freeman sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total value of $803,120.00. Following the sale, the insider now directly owns 77,027 shares in the company, valued at approximately $7,732,740.53. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Castagnetto sold 5,016 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.60, for a total transaction of $499,593.60. Following the completion of the sale, the insider now owns 34,586 shares in the company, valued at approximately $3,444,765.60. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,716 shares of company stock worth $1,858,008. Corporate insiders own 1.47% of the company’s stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of hedge funds have recently made changes to their positions in the stock. National Pension Service bought a new position in C.H. Robinson Worldwide in the 4th quarter valued at approximately $25,000. North Capital Inc. bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $25,000. NBC Securities Inc. bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $27,000. First Financial Corp IN bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $31,000. Finally, WPG Advisers LLC bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $32,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.