Bank of America Issues Pessimistic Forecast for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective lowered by equities researchers at Bank of America from $130.00 to $122.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 22.63% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of C.H. Robinson Worldwide from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday. Stephens reiterated an “equal weight” rating and issued a $111.00 price target on shares of C.H. Robinson Worldwide in a report on Thursday. Barclays boosted their price objective on C.H. Robinson Worldwide from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Susquehanna reduced their target price on C.H. Robinson Worldwide from $130.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Evercore ISI boosted their target price on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.33.

C.H. Robinson Worldwide Stock Performance

NASDAQ:CHRW opened at $99.49 on Thursday. The firm has a market capitalization of $11.76 billion, a PE ratio of 25.84, a PEG ratio of 0.89 and a beta of 0.83. The stock’s fifty day moving average is $105.52 and its 200 day moving average is $103.81. C.H. Robinson Worldwide has a fifty-two week low of $65.00 and a fifty-two week high of $114.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 35.64%. On average, sell-side analysts anticipate that C.H. Robinson Worldwide will post 4.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $109.87, for a total value of $1,143,526.96. Following the completion of the sale, the insider now directly owns 70,943 shares in the company, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Castagnetto sold 2,032 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $103.81, for a total transaction of $210,941.92. Following the transaction, the insider now owns 34,469 shares in the company, valued at $3,578,226.89. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Several institutional investors and hedge funds have recently made changes to their positions in CHRW. Convergence Investment Partners LLC raised its stake in C.H. Robinson Worldwide by 19.6% in the 4th quarter. Convergence Investment Partners LLC now owns 12,277 shares of the transportation company’s stock worth $1,268,000 after acquiring an additional 2,011 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of C.H. Robinson Worldwide by 54.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,370 shares of the transportation company’s stock worth $555,000 after purchasing an additional 1,898 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of C.H. Robinson Worldwide by 420.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,269 shares of the transportation company’s stock worth $131,000 after purchasing an additional 1,025 shares during the period. CIBC Asset Management Inc boosted its position in C.H. Robinson Worldwide by 1.2% in the fourth quarter. CIBC Asset Management Inc now owns 19,409 shares of the transportation company’s stock valued at $2,005,000 after buying an additional 232 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in C.H. Robinson Worldwide by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 142,016 shares of the transportation company’s stock valued at $14,673,000 after buying an additional 7,183 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

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.