C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target Cut to $119.00 by Analysts at Bank of America

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price dropped by Bank of America from $122.00 to $119.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential upside of 17.67% from the company’s current price.

A number of other brokerages also recently commented on CHRW. Citigroup cut their target price on shares of C.H. Robinson Worldwide from $130.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of C.H. Robinson Worldwide from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday. Raymond James reduced their target price on C.H. Robinson Worldwide from $123.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Stephens reaffirmed an “equal weight” rating and set a $111.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, January 30th. Finally, TD Cowen boosted their price target on shares of C.H. Robinson Worldwide from $113.00 to $119.00 and gave the company a “hold” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.89.

C.H. Robinson Worldwide Trading Down 0.5 %

Shares of C.H. Robinson Worldwide stock opened at $101.13 on Friday. C.H. Robinson Worldwide has a fifty-two week low of $65.00 and a fifty-two week high of $114.82. The business’s fifty day moving average is $100.58 and its two-hundred day moving average is $104.40. The company has a quick ratio of 1.49, a current ratio of 1.28 and a debt-to-equity ratio of 0.54. The firm has a market cap of $12.00 billion, a PE ratio of 26.27, a P/E/G ratio of 1.16 and a beta of 0.83.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.53% and a net margin of 2.63%. Analysts anticipate that C.H. Robinson Worldwide will post 4.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael D. Castagnetto sold 5,016 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $99.60, for a total transaction of $499,593.60. Following the completion of the sale, the insider now directly owns 34,586 shares in the company, valued at approximately $3,444,765.60. This trade represents a 12.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total value of $803,120.00. Following the completion of the sale, the insider now directly owns 77,027 shares of the company’s stock, valued at approximately $7,732,740.53. The trade was a 9.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,048 shares of company stock worth $1,513,656. Corporate insiders own 1.47% of the company’s stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in C.H. Robinson Worldwide by 92,841.1% during the fourth quarter. Van ECK Associates Corp now owns 3,007,574 shares of the transportation company’s stock worth $310,742,000 after buying an additional 3,004,338 shares in the last quarter. FMR LLC raised its position in C.H. Robinson Worldwide by 2,259.1% in the 3rd quarter. FMR LLC now owns 2,557,791 shares of the transportation company’s stock valued at $282,303,000 after purchasing an additional 2,449,367 shares during the last quarter. Norges Bank acquired a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth approximately $134,833,000. Raymond James Financial Inc. acquired a new position in C.H. Robinson Worldwide during the 4th quarter worth $102,174,000. Finally, First Trust Advisors LP boosted its holdings in C.H. Robinson Worldwide by 163.6% in the fourth quarter. First Trust Advisors LP now owns 1,206,207 shares of the transportation company’s stock valued at $124,625,000 after acquiring an additional 748,661 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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.