Bank of America Has Lowered Expectations for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target decreased by equities researchers at Bank of America from $225.00 to $219.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 35.54% from the stock’s current price.

A number of other research firms also recently commented on CHRW. Evercore raised their target price on C.H. Robinson Worldwide from $196.00 to $219.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Wolfe Research reaffirmed an “outperform” rating and set a $188.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 8th. Stifel Nicolaus increased their price target on shares of C.H. Robinson Worldwide from $184.00 to $202.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Truist Financial raised their price objective on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $149.00 price objective on shares of C.H. Robinson Worldwide in a report on Wednesday, January 14th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.83.

C.H. Robinson Worldwide Stock Performance

NASDAQ CHRW opened at $161.57 on Friday. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.70 and a beta of 0.90. The business’s 50 day moving average is $181.28 and its two-hundred day moving average is $159.95. C.H. Robinson Worldwide has a 12-month low of $84.68 and a 12-month high of $203.34. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.24% and a net margin of 3.62%.The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm earned $1.21 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Research analysts expect that C.H. Robinson Worldwide will post 4.83 EPS for the current year.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Arun Rajan acquired 605 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of $167.11 per share, for a total transaction of $101,101.55. Following the transaction, the insider directly owned 133,656 shares of the company’s stock, valued at approximately $22,335,254.16. This represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David P. Bozeman acquired 1,223 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $163.34 per share, for a total transaction of $199,764.82. Following the completion of the purchase, the chief executive officer owned 190,600 shares in the company, valued at $31,132,604. The trade was a 0.65% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 2,422 shares of company stock worth $400,801 and sold 21,416 shares worth $4,157,630. 1.47% of the stock is currently owned by corporate insiders.

Institutional Trading of C.H. Robinson Worldwide

Several large investors have recently modified their holdings of CHRW. Transcend Capital Advisors LLC acquired a new position in shares of C.H. Robinson Worldwide in the third quarter worth $460,000. Raiffeisen Bank International AG acquired a new stake in shares of C.H. Robinson Worldwide during the third quarter valued at $937,000. Mairs & Power Inc. boosted its stake in shares of C.H. Robinson Worldwide by 0.7% during the third quarter. Mairs & Power Inc. now owns 869,738 shares of the transportation company’s stock valued at $115,153,000 after acquiring an additional 6,188 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in C.H. Robinson Worldwide by 8,726.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 17,652 shares of the transportation company’s stock worth $2,341,000 after purchasing an additional 17,452 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in C.H. Robinson Worldwide by 91.8% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,774 shares of the transportation company’s stock worth $1,559,000 after purchasing an additional 5,634 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.