Wells Fargo & Company Boosts C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target to $170.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target lifted by equities researchers at Wells Fargo & Company from $155.00 to $170.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.40% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on CHRW. Citigroup cut shares of C.H. Robinson Worldwide from a “buy” rating to a “neutral” rating and increased their target price for the stock from $134.00 to $148.00 in a research report on Wednesday, October 8th. BMO Capital Markets reissued a “market perform” rating and set a $140.00 price objective on shares of C.H. Robinson Worldwide in a report on Thursday. Truist Financial increased their price objective on shares of C.H. Robinson Worldwide from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of C.H. Robinson Worldwide in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of C.H. Robinson Worldwide from $124.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

C.H. Robinson Worldwide Trading Down 0.6%

Shares of C.H. Robinson Worldwide stock opened at $153.99 on Thursday. The stock has a market capitalization of $18.18 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $131.05 and a 200 day simple moving average of $110.51. C.H. Robinson Worldwide has a 12-month low of $84.68 and a 12-month high of $158.70.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.26 billion. C.H. Robinson Worldwide had a net margin of 3.64% and a return on equity of 35.32%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the company posted $1.28 EPS. Research analysts expect that C.H. Robinson Worldwide will post 4.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Angela K. Freeman sold 5,713 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $116.24, for a total value of $664,079.12. Following the transaction, the insider owned 65,728 shares of the company’s stock, valued at approximately $7,640,222.72. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael John Short sold 6,364 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the transaction, the insider directly owned 60,401 shares in the company, valued at $7,081,413.24. This trade represents a 9.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,577 shares of company stock valued at $1,714,544. 1.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. North Capital Inc. bought a new position in shares of C.H. Robinson Worldwide in the 1st quarter valued at about $25,000. Arlington Trust Co LLC bought a new position in C.H. Robinson Worldwide during the 3rd quarter worth approximately $34,000. Quent Capital LLC bought a new position in C.H. Robinson Worldwide during the 3rd quarter worth approximately $37,000. CYBER HORNET ETFs LLC bought a new position in C.H. Robinson Worldwide during the 2nd quarter worth approximately $30,000. Finally, WPG Advisers LLC bought a new position in C.H. Robinson Worldwide during the 1st quarter worth approximately $32,000. 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.