C.H. Robinson Worldwide (CHRW) Downgraded by Bank of America to Neutral

Bank of America lowered shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a buy rating to a neutral rating in a research report sent to investors on Thursday, August 9th, MarketBeat.com reports.

Several other brokerages have also recently issued reports on CHRW. JPMorgan Chase & Co. raised C.H. Robinson Worldwide from an underweight rating to a neutral rating and set a $71.00 price objective for the company in a report on Wednesday, July 11th. Credit Suisse Group boosted their price objective on C.H. Robinson Worldwide from $82.00 to $86.00 and gave the company an underperform rating in a report on Thursday, August 2nd. Robert W. Baird reaffirmed a neutral rating on shares of C.H. Robinson Worldwide in a report on Wednesday, August 1st. Zacks Investment Research cut C.H. Robinson Worldwide from a hold rating to a sell rating in a report on Monday, July 9th. Finally, Stephens cut C.H. Robinson Worldwide from an overweight rating to an equal weight rating and set a $89.00 price target for the company. in a report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $93.73.

CHRW traded up $0.50 on Thursday, reaching $96.08. 939,400 shares of the stock were exchanged, compared to its average volume of 1,367,293. C.H. Robinson Worldwide has a fifty-two week low of $70.12 and a fifty-two week high of $100.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $13.34 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.40 and a beta of 0.44.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Tuesday, July 31st. The transportation company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.18 billion. C.H. Robinson Worldwide had a return on equity of 38.81% and a net margin of 3.59%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. analysts predict that C.H. Robinson Worldwide will post 4.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.92%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 52.87%.

C.H. Robinson Worldwide announced that its board has initiated a share repurchase plan on Thursday, May 10th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Michael W. Neill sold 452 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $96.10, for a total value of $43,437.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael John Short sold 4,527 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $96.12, for a total value of $435,135.24. Following the completion of the transaction, the insider now owns 14,717 shares in the company, valued at $1,414,598.04. The disclosure for this sale can be found here. Insiders sold 42,758 shares of company stock valued at $4,126,546 over the last 90 days. Company insiders own 0.97% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRW. Natixis acquired a new position in C.H. Robinson Worldwide during the first quarter worth $11,256,000. Nisa Investment Advisors LLC lifted its stake in C.H. Robinson Worldwide by 23.8% during the second quarter. Nisa Investment Advisors LLC now owns 26,257 shares of the transportation company’s stock worth $2,197,000 after purchasing an additional 5,055 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its stake in C.H. Robinson Worldwide by 5,714.3% during the second quarter. Hussman Strategic Advisors Inc. now owns 40,700 shares of the transportation company’s stock worth $3,405,000 after purchasing an additional 40,000 shares in the last quarter. Amalgamated Bank lifted its stake in C.H. Robinson Worldwide by 6.2% during the second quarter. Amalgamated Bank now owns 21,580 shares of the transportation company’s stock worth $1,805,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Chicago Capital LLC acquired a new position in C.H. Robinson Worldwide during the second quarter worth $201,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.

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Analyst Recommendations for C.H. Robinson Worldwide (NASDAQ:CHRW)

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