C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Down Following Analyst Downgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s share price gapped down prior to trading on Thursday after Stephens lowered their price target on the stock from $225.00 to $215.00. The stock had previously closed at $173.75, but opened at $161.89. Stephens currently has an overweight rating on the stock. C.H. Robinson Worldwide shares last traded at $154.1290, with a volume of 447,445 shares traded.

A number of other research firms also recently issued reports on CHRW. Truist Financial increased their price target on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Citizens Jmp assumed coverage on C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $235.00 target price for the company. Barclays lifted their price target on C.H. Robinson Worldwide from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Citigroup started coverage on C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They issued a “market outperform” rating on the stock. Finally, Wolfe Research set a $196.00 price objective on C.H. Robinson Worldwide in a report on Thursday. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.00.

Trending Headlines about C.H. Robinson Worldwide

Here are the key news stories impacting C.H. Robinson Worldwide this week:

• Positive Sentiment: Second-quarter adjusted earnings were $1.61 per share, above the $1.53 consensus estimate and up from $1.29 a year earlier. Revenue increased 19.3% year over year to $4.93 billion, also exceeding expectations. C.H. Robinson Worldwide Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Quarterly profit rose to $186.8 million from $152.5 million, with higher pricing contributing to revenue growth. The results indicate continued earnings momentum for the freight brokerage company. C.H. Robinson Profit Rises as Higher Prices Boost Revenue
• Positive Sentiment: Stephens maintained an “overweight” rating and sees substantial potential upside, although it reduced its price target from $225 to $215. Stephens CHRW Price Target Update
• Negative Sentiment: TD Cowen issued a more pessimistic outlook and reduced its price target from $155 to $152 while maintaining a “hold” rating, signaling limited near-term conviction. TD Cowen CHRW Forecast
• Negative Sentiment: Robert W. Baird also lowered its expectations for CHRW, adding to concerns that the strong quarterly numbers may not fully translate into improved forward estimates. Robert W. Baird CHRW Price Target Update

Institutional Trading of C.H. Robinson Worldwide

A number of hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC increased its position in C.H. Robinson Worldwide by 0.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 50,211 shares of the transportation company’s stock valued at $9,457,000 after buying an additional 297 shares in the last quarter. Handelsbanken Fonder AB raised its stake in C.H. Robinson Worldwide by 12.2% during the second quarter. Handelsbanken Fonder AB now owns 36,800 shares of the transportation company’s stock valued at $6,931,000 after buying an additional 4,000 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in C.H. Robinson Worldwide by 2.8% in the second quarter. Contravisory Investment Management Inc. now owns 6,164 shares of the transportation company’s stock worth $1,161,000 after acquiring an additional 167 shares in the last quarter. Sax Wealth Advisors LLC bought a new stake in C.H. Robinson Worldwide in the second quarter worth $286,000. Finally, Czech National Bank grew its stake in shares of C.H. Robinson Worldwide by 3.9% in the second quarter. Czech National Bank now owns 33,551 shares of the transportation company’s stock worth $6,319,000 after acquiring an additional 1,245 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Price Performance

The firm has a fifty day moving average price of $187.41 and a two-hundred day moving average price of $180.99. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $17.34 billion, a P/E ratio of 29.84, a P/E/G ratio of 1.46 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts expect that C.H. Robinson Worldwide, Inc. will post 6.12 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 51.01%.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.