C.H. Robinson Worldwide (NASDAQ:CHRW) Reaches New 1-Year High After Analyst Upgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s stock price reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $210.00 to $215.00. Truist Financial currently has a buy rating on the stock. C.H. Robinson Worldwide traded as high as $208.70 and last traded at $204.1890, with a volume of 395050 shares changing hands. The stock had previously closed at $197.50.

A number of other equities research analysts have also issued reports on CHRW. Raymond James Financial lowered their target price on C.H. Robinson Worldwide from $210.00 to $203.00 and set an “outperform” rating for the company in a research note on Thursday, July 2nd. Citigroup started coverage on C.H. Robinson Worldwide in a research report on Wednesday. They set a “market outperform” rating on the stock. Susquehanna upped their price target on C.H. Robinson Worldwide from $215.00 to $226.00 and gave the stock a “positive” rating in a report on Tuesday. BMO Capital Markets increased their price objective on shares of C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Weiss Ratings lowered shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Seventeen research analysts have rated the stock with 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 an average target price of $198.62.

Key Headlines Impacting C.H. Robinson Worldwide

Here are the key news stories impacting C.H. Robinson Worldwide this week:

• Positive Sentiment: Truist Financial raised its price target on C.H. Robinson Worldwide to $215 from $210 and reiterated a buy rating, signaling continued confidence in the company’s outlook. Truist price target raise report
• Positive Sentiment: Stifel Nicolaus also lifted its price target to $215 from $207 and kept a buy rating, adding to the bullish analyst momentum. Stifel price target raise report
• Positive Sentiment: Citizens JMP initiated coverage with a market perform rating and a $235 target, which is above the current trading level and may still support investor sentiment. Citizens JMP coverage initiation
• Neutral Sentiment: A Zacks comparison article weighing ZTO Express against CHRW highlights valuation considerations, but it does not appear to include a major new catalyst for the stock. Zacks comparison article
• Neutral Sentiment: Susquehanna issued a positive forecast for C.H. Robinson Worldwide, reinforcing expectations that analysts see room for further upside. Susquehanna forecast report

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jones Kertz & Associates Inc. bought a new stake in shares of C.H. Robinson Worldwide in the fourth quarter worth $1,557,000. Massachusetts Financial Services Co. MA bought a new position in C.H. Robinson Worldwide during the 4th quarter valued at $3,699,000. New York State Teachers Retirement System boosted its stake in C.H. Robinson Worldwide by 6.0% during the 4th quarter. New York State Teachers Retirement System now owns 104,269 shares of the transportation company’s stock valued at $16,762,000 after acquiring an additional 5,877 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in C.H. Robinson Worldwide during the 4th quarter worth $965,000. Finally, Swiss Life Asset Management Ltd grew its holdings in C.H. Robinson Worldwide by 74.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 83,796 shares of the transportation company’s stock worth $11,095,000 after acquiring an additional 35,715 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Price Performance

The company’s 50-day moving average price is $182.97 and its two-hundred day moving average price is $179.14. The company has a market cap of $24.25 billion, a P/E ratio of 41.65, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.79.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. As a group, sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 6.11 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, June 5th. This represents a $2.52 annualized dividend and a yield of 1.2%. C.H. Robinson Worldwide’s dividend payout ratio is presently 51.01%.

C.H. Robinson Worldwide Company Profile

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.