Bank of America Lowers C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target to $68.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective trimmed by Bank of America from $70.00 to $68.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an underperform rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on CHRW. BMO Capital Markets decreased their price objective on C.H. Robinson Worldwide from $90.00 to $85.00 and set a market perform rating for the company in a report on Thursday, February 1st. Susquehanna lifted their target price on C.H. Robinson Worldwide from $79.00 to $80.00 and gave the company a neutral rating in a report on Monday, March 25th. Stifel Nicolaus lifted their target price on C.H. Robinson Worldwide from $84.00 to $85.00 and gave the company a hold rating in a report on Wednesday, January 10th. Wolfe Research raised C.H. Robinson Worldwide from an underperform rating to a peer perform rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut their price objective on C.H. Robinson Worldwide from $75.00 to $70.00 and set an underweight rating for the company in a report on Tuesday, April 9th. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $81.21.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $68.81 on Monday. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 3.48 and a beta of 0.72. C.H. Robinson Worldwide has a 52 week low of $65.00 and a 52 week high of $106.14. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $73.09 and a 200-day moving average of $80.18.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly 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). C.H. Robinson Worldwide had a net margin of 1.85% and a return on equity of 27.61%. The business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, equities analysts forecast that C.H. Robinson Worldwide will post 3.31 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.55%. C.H. Robinson Worldwide’s dividend payout ratio is presently 90.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRW. Penserra Capital Management LLC acquired a new position in shares of C.H. Robinson Worldwide in the 1st quarter valued at about $30,000. Quarry LP acquired a new position in shares of C.H. Robinson Worldwide during the fourth quarter valued at approximately $30,000. Montag A & Associates Inc. acquired a new position in shares of C.H. Robinson Worldwide during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC purchased a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at approximately $31,000. Finally, Pacific Center for Financial Services purchased a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at approximately $34,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.