Zacks Investment Research upgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $102.00 price target on the transportation company’s stock.
According to Zacks, “C.H. Robinson reported better-than-expected earnings per share in the fourth quarter of 2018. Moreover, the top and bottom lines improved year over year driven by favorable pricing across most transportation product lines and low tax rates. Efforts to reward its shareholders in the form of dividends and share buybacks are impressive. Improvement in operating ratio is also a positive. Also, upbeat freight demand and reduced tax rates have proved to be favorable for the company. The positivity surrounding the stock can be gauged from the Zacks Consensus Estimate being revised 1.8% upward over the last 30 days for current-quarter earnings. Despite such positives, the company is struggling with high operating expenses. In fact, shares of C.H. Robinson have declined nearly 6% in the past six months.”
Several other brokerages have also recently issued reports on CHRW. Loop Capital started coverage on C.H. Robinson Worldwide in a research report on Wednesday, October 17th. They set a buy rating and a $107.00 price target on the stock. Citigroup decreased their target price on C.H. Robinson Worldwide from $111.00 to $102.00 and set a buy rating on the stock in a report on Wednesday, October 31st. Morgan Stanley set a $67.00 target price on C.H. Robinson Worldwide and gave the stock a sell rating in a report on Monday, October 22nd. Cleveland Research restated a neutral rating on shares of C.H. Robinson Worldwide in a report on Friday, October 19th. Finally, BidaskClub upgraded C.H. Robinson Worldwide from a sell rating to a hold rating in a report on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $96.67.
C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Tuesday, January 29th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. C.H. Robinson Worldwide had a return on equity of 43.12% and a net margin of 4.00%. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts expect that C.H. Robinson Worldwide will post 5.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.21%. C.H. Robinson Worldwide’s dividend payout ratio is 42.28%.
In other news, insider Jordan T. Kass sold 1,382 shares of C.H. Robinson Worldwide stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $90.80, for a total transaction of $125,485.60. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Synovus Financial Corp grew its holdings in shares of C.H. Robinson Worldwide by 80.0% during the fourth quarter. Synovus Financial Corp now owns 288 shares of the transportation company’s stock valued at $25,000 after buying an additional 128 shares in the last quarter. Comerica Bank grew its holdings in shares of C.H. Robinson Worldwide by 0.6% during the fourth quarter. Comerica Bank now owns 26,833 shares of the transportation company’s stock valued at $2,324,000 after buying an additional 167 shares in the last quarter. Palo Capital Inc. grew its holdings in shares of C.H. Robinson Worldwide by 0.4% during the fourth quarter. Palo Capital Inc. now owns 46,613 shares of the transportation company’s stock valued at $3,920,000 after buying an additional 206 shares in the last quarter. M&T Bank Corp grew its holdings in shares of C.H. Robinson Worldwide by 2.8% during the fourth quarter. M&T Bank Corp now owns 7,888 shares of the transportation company’s stock valued at $663,000 after buying an additional 214 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in shares of C.H. Robinson Worldwide by 18.8% during the fourth quarter. ETF Managers Group LLC now owns 1,427 shares of the transportation company’s stock valued at $120,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.
C.H. Robinson Worldwide Company Profile
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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