C.H. Robinson Worldwide, Inc. (CHRW) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) from a buy rating to a hold rating in a report published on Friday.
According to Zacks, “Shares of C.H. Robinson have outperformed its industry in the last six months. Ushering in further good news, the company reported better-than-expected earnings per share and revenues in the third quarter of 2017. Moreover, the top line increased on a year-over-year basis, driven by volume growth across all transportation services. C.H. Robinson's efforts to expand globally through mergers are impressive. The acquisition of Milgram & Company, completed in August, is likely to boost the company's global presence and will be accretive in 2018. However, the company is struggling with high costs. The bottom line decreased 5.6% year over year in third-quarter mainly due to escalating costs. The below-par performance of the truckload and intermodal segments in the quarter also raise concerns. The company's high debt levels are also worrisome.”
CHRW has been the topic of several other reports. Deutsche Bank AG dropped their target price on C.H. Robinson Worldwide from $75.00 to $60.00 and set a hold rating on the stock in a report on Friday, July 21st. Credit Suisse Group boosted their target price on C.H. Robinson Worldwide from $68.00 to $69.00 and gave the stock an underperform rating in a report on Thursday, November 2nd. Bank of America Corporation raised C.H. Robinson Worldwide from an underperform rating to a buy rating and boosted their target price for the stock from $70.00 to $86.00 in a report on Tuesday, October 10th. BidaskClub raised C.H. Robinson Worldwide from a strong sell rating to a sell rating in a report on Saturday, August 5th. Finally, BMO Capital Markets downgraded C.H. Robinson Worldwide from an outperform rating to a market perform rating and boosted their target price for the stock from $72.00 to $77.00 in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $77.35.
C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Tuesday, October 31st. The transportation company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. C.H. Robinson Worldwide had a return on equity of 36.06% and a net margin of 3.31%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. research analysts predict that C.H. Robinson Worldwide will post 3.33 EPS for the current fiscal year.
In related news, insider Jordan T. Kass sold 1,738 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $78.75, for a total transaction of $136,867.50. Following the completion of the sale, the insider now owns 24,348 shares in the company, valued at $1,917,405. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James Lemke sold 15,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $79.98, for a total value of $1,199,700.00. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Nicolet Bankshares Inc. purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth about $202,000. Integrated Investment Consultants LLC grew its position in shares of C.H. Robinson Worldwide by 39.0% during the third quarter. Integrated Investment Consultants LLC now owns 2,675 shares of the transportation company’s stock worth $204,000 after purchasing an additional 750 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth about $205,000. Conning Inc. purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth about $213,000. Finally, Zions Bancorporation purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth about $223,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
C.H. Robinson Worldwide Company Profile
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.
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