C.H. Robinson Worldwide (NASDAQ:CHRW) Hits New 52-Week High Following Analyst Upgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s stock price reached a new 52-week high during trading on Monday after Bank of America raised their price target on the stock from $120.00 to $136.00. Bank of America currently has a buy rating on the stock. C.H. Robinson Worldwide traded as high as $126.85 and last traded at $125.32, with a volume of 1577441 shares trading hands. The stock had previously closed at $122.80.

A number of other research analysts have also commented on CHRW. JPMorgan Chase & Co. raised their price target on C.H. Robinson Worldwide from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Baird R W upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their target price on shares of C.H. Robinson Worldwide from $108.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Evercore ISI dropped their price target on shares of C.H. Robinson Worldwide from $119.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reaffirmed an “underweight” rating and issued a $95.00 price target (up from $90.00) on shares of C.H. Robinson Worldwide in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, C.H. Robinson Worldwide presently has an average rating of “Moderate Buy” and a consensus price target of $117.24.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Arun Rajan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $121.74, for a total transaction of $304,350.00. Following the completion of the sale, the insider directly owned 130,591 shares in the company, valued at approximately $15,898,148.34. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael John Short sold 6,364 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the transaction, the insider owned 60,401 shares in the company, valued at approximately $7,081,413.24. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,577 shares of company stock valued at $1,714,544 over the last ninety days. Insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of institutional investors and hedge funds have recently modified their holdings of CHRW. North Capital Inc. acquired a new position in shares of C.H. Robinson Worldwide in the 1st quarter valued at $25,000. NBC Securities Inc. purchased a new stake in C.H. Robinson Worldwide during the first quarter valued at about $27,000. First Financial Corp IN purchased a new stake in C.H. Robinson Worldwide during the first quarter valued at about $31,000. CYBER HORNET ETFs LLC acquired a new position in shares of C.H. Robinson Worldwide in the second quarter worth about $30,000. Finally, WPG Advisers LLC purchased a new position in shares of C.H. Robinson Worldwide in the first quarter worth approximately $32,000. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The stock’s fifty day moving average price is $105.43 and its 200-day moving average price is $99.21.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.12. C.H. Robinson Worldwide had a net margin of 3.14% and a return on equity of 35.01%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, September 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.0%. C.H. Robinson Worldwide’s payout ratio is currently 56.49%.

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.