C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target Cut to $68.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price decreased by Bank of America from $70.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “underperform” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 0.16% from the company’s previous close.

A number of other research firms also recently commented on CHRW. Wolfe Research raised shares of C.H. Robinson Worldwide from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 11th. Susquehanna upped their price objective on shares of C.H. Robinson Worldwide from $79.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Wells Fargo & Company dropped their price objective on shares of C.H. Robinson Worldwide from $80.00 to $70.00 and set an “underweight” rating for the company in a research note on Thursday, February 1st. BNP Paribas reaffirmed a “neutral” rating and set a $76.00 price objective on shares of C.H. Robinson Worldwide in a research note on Wednesday, March 27th. Finally, BMO Capital Markets dropped their price objective on shares of C.H. Robinson Worldwide from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. Seven research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.21.

C.H. Robinson Worldwide Trading Down 1.6 %

Shares of CHRW stock opened at $67.89 on Monday. The firm has a 50-day moving average price of $73.18 and a 200 day moving average price of $80.26. C.H. Robinson Worldwide has a twelve month low of $67.35 and a twelve month high of $106.14. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.55 and a beta of 0.72. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.00.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, January 31st. The transportation company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). C.H. Robinson Worldwide had a net margin of 1.85% and a return on equity of 27.61%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.35 billion. Research analysts forecast that C.H. Robinson Worldwide will post 3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several institutional investors and hedge funds have recently made changes to their positions in CHRW. Norges Bank purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at approximately $70,174,000. State Street Corp boosted its stake in shares of C.H. Robinson Worldwide by 4.3% during the 1st quarter. State Street Corp now owns 8,916,720 shares of the transportation company’s stock valued at $891,417,000 after buying an additional 365,084 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at approximately $26,861,000. Bank of America Corp DE boosted its stake in shares of C.H. Robinson Worldwide by 64.9% during the 1st quarter. Bank of America Corp DE now owns 779,362 shares of the transportation company’s stock valued at $77,445,000 after buying an additional 306,755 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its stake in shares of C.H. Robinson Worldwide by 105.5% during the 4th quarter. Pinebridge Investments L.P. now owns 593,653 shares of the transportation company’s stock valued at $51,286,000 after buying an additional 304,709 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

About C.H. Robinson Worldwide

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.