Zacks Investment Research downgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “Shares of C.H. Robinson have outperformed its industry in a year's time. Increased freight demand and lower tax rates have been aiding the company. The company's grow-by-acquisition poilicy is impressive. In this regard, C.H. Robinson's acquisition of Milgram & Company last August is a notable one, having boosted its global presence. Its efforts to reward shareholders through dividends and share buybacks are also encouraging. In May, the company boosted its buyback program adding another 15 million shares to the existing share repurchase authorization. However, high costs are limiting bottom-line growth. Apart from high fuel costs, capital expenditures undertaken by C.H. Robinson are also pressurizing the bottom line. We remain concerned about the company's high debt levels.”
CHRW has been the topic of a number of other research reports. BidaskClub lowered C.H. Robinson Worldwide from a hold rating to a sell rating in a research note on Thursday. Stifel Nicolaus initiated coverage on C.H. Robinson Worldwide in a research note on Tuesday, June 19th. They issued a buy rating and a $101.00 price objective on the stock. Credit Suisse Group boosted their price objective on C.H. Robinson Worldwide from $82.00 to $86.00 and gave the stock an underperform rating in a research note on Thursday, August 2nd. KeyCorp boosted their price objective on C.H. Robinson Worldwide from $100.00 to $105.00 and gave the stock an overweight rating in a research note on Thursday, August 2nd. Finally, Cowen boosted their price objective on C.H. Robinson Worldwide from $99.00 to $106.00 and gave the stock an outperform rating in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $93.73.
C.H. Robinson Worldwide stock opened at $97.28 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 2.43 and a beta of 0.40. C.H. Robinson Worldwide has a 52 week low of $75.39 and a 52 week high of $101.20.
C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Tuesday, July 31st. The transportation company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.18 billion. C.H. Robinson Worldwide had a return on equity of 38.81% and a net margin of 3.59%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Research analysts anticipate that C.H. Robinson Worldwide will post 4.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 7th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, September 6th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 52.87%.
In other news, insider Angela K. Freeman sold 1,589 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $96.71, for a total transaction of $153,672.19. Following the transaction, the insider now owns 24,136 shares of the company’s stock, valued at $2,334,192.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael John Short sold 4,527 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $96.12, for a total value of $435,135.24. Following the transaction, the insider now directly owns 14,717 shares in the company, valued at approximately $1,414,598.04. The disclosure for this sale can be found here. Insiders have sold 46,758 shares of company stock worth $4,526,546 in the last ninety days. 0.97% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fort L.P. bought a new stake in C.H. Robinson Worldwide in the second quarter valued at about $116,000. Piedmont Investment Advisors LLC bought a new stake in C.H. Robinson Worldwide in the second quarter valued at about $132,000. Sit Investment Associates Inc. increased its holdings in C.H. Robinson Worldwide by 77.5% in the second quarter. Sit Investment Associates Inc. now owns 1,775 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 775 shares during the last quarter. Cerebellum GP LLC bought a new stake in C.H. Robinson Worldwide in the second quarter valued at about $177,000. Finally, Chicago Capital LLC bought a new stake in C.H. Robinson Worldwide in the second quarter valued at about $201,000. 86.02% of the stock is currently owned by institutional investors and hedge funds.
About C.H. Robinson Worldwide
C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.
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