C.H. Robinson Worldwide (NASDAQ:CHRW) Given New $68.00 Price Target at Bank of America

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price reduced by Bank of America from $70.00 to $68.00 in a research note published on Monday morning, Benzinga reports. They currently have an underperform rating on the transportation company’s stock.

Several other analysts also recently issued reports on CHRW. Wells Fargo & Company decreased their target price on C.H. Robinson Worldwide from $80.00 to $70.00 and set an underweight rating on the stock in a research note on Thursday, February 1st. Barclays reissued 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 note on Monday, April 1st. JPMorgan Chase & Co. reduced their price objective on C.H. Robinson Worldwide from $75.00 to $70.00 and set an underweight rating on the stock in a research note on Tuesday, April 9th. Susquehanna lifted their price objective on C.H. Robinson Worldwide from $79.00 to $80.00 and gave the stock a neutral rating in a research note on Monday, March 25th. Finally, BNP Paribas reaffirmed a neutral rating and issued a $76.00 price objective on shares of C.H. Robinson Worldwide in a research note on Wednesday, March 27th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, C.H. Robinson Worldwide has an average rating of Hold and a consensus target price of $81.21.

C.H. Robinson Worldwide Stock Up 1.5 %

Shares of CHRW opened at $69.87 on Monday. The business’s 50 day moving average is $72.99 and its 200 day moving average is $80.11. The company has a market capitalization of $8.17 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. C.H. Robinson Worldwide has a 12-month low of $65.00 and a 12-month high of $106.14. 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 issued its earnings results on Wednesday, January 31st. The transportation company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.35 billion. C.H. Robinson Worldwide had a net margin of 1.85% and a return on equity of 27.61%. Research analysts expect that C.H. Robinson Worldwide will post 3.24 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Thursday, February 29th. C.H. Robinson Worldwide’s dividend payout ratio is currently 90.04%.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several large investors have recently modified their holdings of CHRW. Cullinan Associates Inc. grew its position in C.H. Robinson Worldwide by 78.3% in the 1st quarter. Cullinan Associates Inc. now owns 40,300 shares of the transportation company’s stock valued at $3,068,000 after acquiring an additional 17,700 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in C.H. Robinson Worldwide by 30.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 76,218 shares of the transportation company’s stock valued at $5,803,000 after acquiring an additional 17,745 shares during the last quarter. First Bank & Trust grew its position in C.H. Robinson Worldwide by 6.8% in the 1st quarter. First Bank & Trust now owns 4,280 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 271 shares during the last quarter. Saratoga Research & Investment Management grew its position in C.H. Robinson Worldwide by 2.0% in the 1st quarter. Saratoga Research & Investment Management now owns 546,514 shares of the transportation company’s stock valued at $41,612,000 after acquiring an additional 10,753 shares during the last quarter. Finally, Brookstone Capital Management grew its position in C.H. Robinson Worldwide by 4.5% in the 1st quarter. Brookstone Capital Management now owns 6,574 shares of the transportation company’s stock valued at $501,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

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.