C.H. Robinson Worldwide, Inc. (CHRW) Upgraded to Buy by Bank of America Corporation

Bank of America Corporation upgraded shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) from an underperform rating to a buy rating in a report issued on Tuesday morning. Bank of America Corporation currently has $86.00 target price on the transportation company’s stock, up from their prior target price of $70.00.

A number of other equities research analysts also recently issued reports on CHRW. BidaskClub raised shares of C.H. Robinson Worldwide from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Citigroup Inc. cut their price objective on shares of C.H. Robinson Worldwide from $80.00 to $73.00 and set a neutral rating for the company in a research report on Thursday, July 13th. Stifel Nicolaus cut their price objective on shares of C.H. Robinson Worldwide from $71.00 to $67.00 and set a hold rating for the company in a research report on Thursday, July 20th. Barclays PLC reissued a hold rating and set a $67.00 price objective (down previously from $73.00) on shares of C.H. Robinson Worldwide in a research report on Friday, July 21st. Finally, Cowen and Company cut their price objective on shares of C.H. Robinson Worldwide from $73.00 to $68.00 and set a market perform rating for the company in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. C.H. Robinson Worldwide currently has a consensus rating of Hold and a consensus price target of $74.53.

C.H. Robinson Worldwide (NASDAQ CHRW) opened at 77.09 on Tuesday. C.H. Robinson Worldwide has a 12-month low of $63.41 and a 12-month high of $81.16. The stock has a 50 day moving average price of $72.91 and a 200-day moving average price of $70.65. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 22.61 and a beta of 0.42.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Wednesday, July 19th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). C.H. Robinson Worldwide had a net margin of 3.49% and a return on equity of 37.41%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $1.00 EPS. The company’s revenue was up 12.4% on a year-over-year basis. Equities analysts predict that C.H. Robinson Worldwide will post $3.28 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.33%. The ex-dividend date was Wednesday, August 30th. C.H. Robinson Worldwide’s dividend payout ratio is currently 52.94%.

In other C.H. Robinson Worldwide news, VP Angela K. Freeman sold 1,200 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $68.72, for a total transaction of $82,464.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRW. UBS Asset Management Americas Inc. boosted its holdings in shares of C.H. Robinson Worldwide by 8.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 491,877 shares of the transportation company’s stock valued at $38,017,000 after purchasing an additional 39,910 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of C.H. Robinson Worldwide by 3.1% during the 1st quarter. Pacer Advisors Inc. now owns 2,649 shares of the transportation company’s stock valued at $205,000 after purchasing an additional 79 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of C.H. Robinson Worldwide by 140.2% during the 1st quarter. JPMorgan Chase & Co. now owns 161,320 shares of the transportation company’s stock valued at $12,467,000 after purchasing an additional 94,173 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of C.H. Robinson Worldwide by 28.6% during the 1st quarter. Victory Capital Management Inc. now owns 25,853 shares of the transportation company’s stock valued at $1,998,000 after purchasing an additional 5,753 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of C.H. Robinson Worldwide by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 2,561 shares of the transportation company’s stock valued at $198,000 after purchasing an additional 159 shares during the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a provider of transportation services and logistics solutions through a network of offices operating in North America, Europe, Asia, Australia, New Zealand and South America. The Company’s segments include North American Surface Transportation (NAST), Global Forwarding, Robinson Fresh, and All Other and Corporate.

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

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