Bank of America Trims C.H. Robinson Worldwide (NASDAQ:CHRW) Target Price to $68.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price decreased by equities research analysts at Bank of America from $70.00 to $68.00 in a report released on Monday, Benzinga reports. The firm currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential downside of 1.89% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays restated an “underweight” rating and set a $65.00 target price (down previously from $80.00) on shares of C.H. Robinson Worldwide in a research report on Monday, April 1st. BNP Paribas restated a “neutral” rating and set a $76.00 target price on shares of C.H. Robinson Worldwide in a research report on Wednesday, March 27th. Stifel Nicolaus upped their target price on C.H. Robinson Worldwide from $84.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. cut their price target on C.H. Robinson Worldwide from $75.00 to $70.00 and set an “underweight” rating on the stock in a report on Tuesday, April 9th. Finally, Susquehanna increased their price target on C.H. Robinson Worldwide from $79.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.21.

C.H. Robinson Worldwide Price Performance

Shares of C.H. Robinson Worldwide stock traded down $1.17 during trading on Monday, reaching $69.31. 474,685 shares of the company’s stock were exchanged, compared to its average volume of 1,574,871. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.40 and a current ratio of 1.40. C.H. Robinson Worldwide has a 1-year low of $69.09 and a 1-year high of $106.14. The company has a market cap of $8.11 billion, a P/E ratio of 25.54, a PEG ratio of 3.55 and a beta of 0.72. The firm’s 50-day moving average price is $73.42 and its 200 day moving average price is $80.52.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). C.H. Robinson Worldwide had a return on equity of 27.61% and a net margin of 1.85%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.35 billion. As a group, research analysts anticipate that C.H. Robinson Worldwide will post 3.31 earnings per share for the current year.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Hedge funds have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new stake in C.H. Robinson Worldwide during the fourth quarter worth about $2,960,000. GSA Capital Partners LLP lifted its stake in C.H. Robinson Worldwide by 8.8% during the third quarter. GSA Capital Partners LLP now owns 9,245 shares of the transportation company’s stock worth $796,000 after purchasing an additional 746 shares during the last quarter. abrdn plc lifted its stake in C.H. Robinson Worldwide by 9.5% during the third quarter. abrdn plc now owns 394,466 shares of the transportation company’s stock worth $33,975,000 after purchasing an additional 34,300 shares during the last quarter. Nordea Investment Management AB lifted its stake in C.H. Robinson Worldwide by 28.3% during the third quarter. Nordea Investment Management AB now owns 309,074 shares of the transportation company’s stock worth $26,979,000 after purchasing an additional 68,256 shares during the last quarter. Finally, Weybosset Research & Management LLC lifted its stake in C.H. Robinson Worldwide by 31.7% during the third quarter. Weybosset Research & Management LLC now owns 60,102 shares of the transportation company’s stock worth $5,177,000 after purchasing an additional 14,480 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Company Profile

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.