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 cut by stock analysts at Bank of America from $122.00 to $119.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective indicates a potential upside of 17.67% from the company’s previous close.

CHRW has been the subject of a number of other research reports. Susquehanna cut their price target on shares of C.H. Robinson Worldwide from $127.00 to $117.00 and set a “positive” rating for the company in a report on Wednesday. Robert W. Baird raised their target price on C.H. Robinson Worldwide from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $125.00 price target on shares of C.H. Robinson Worldwide in a research note on Friday, January 31st. Barclays upped their price objective on shares of C.H. Robinson Worldwide from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, TD Cowen raised their price target on C.H. Robinson Worldwide from $113.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.89.

C.H. Robinson Worldwide Stock Performance

NASDAQ:CHRW opened at $101.13 on Friday. The company has a market cap of $12.00 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.16 and a beta of 0.83. C.H. Robinson Worldwide has a twelve month low of $65.00 and a twelve month high of $114.82. The company’s 50-day moving average price is $100.58 and its 200-day moving average price is $104.40. The company has a current ratio of 1.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.53% and a net margin of 2.63%. On average, sell-side analysts forecast that C.H. Robinson Worldwide will post 4.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael D. Castagnetto sold 5,016 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.60, for a total transaction of $499,593.60. Following the completion of the sale, the insider now owns 34,586 shares in the company, valued at $3,444,765.60. This represents a 12.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela K. Freeman sold 8,000 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total transaction of $803,120.00. Following the completion of the transaction, the insider now owns 77,027 shares in the company, valued at approximately $7,732,740.53. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,048 shares of company stock valued at $1,513,656 in the last ninety days. 1.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Institutional investors have recently added to or reduced their stakes in the business. National Pension Service purchased a new stake in shares of C.H. Robinson Worldwide in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC purchased a new position in shares of C.H. Robinson Worldwide in the 4th quarter valued at about $33,000. Missouri Trust & Investment Co acquired a new stake in shares of C.H. Robinson Worldwide in the fourth quarter valued at about $41,000. Mainstream Capital Management LLC purchased a new stake in C.H. Robinson Worldwide during the fourth quarter worth about $41,000. Finally, Quarry LP boosted its holdings in C.H. Robinson Worldwide by 76.7% during the third quarter. Quarry LP now owns 394 shares of the transportation company’s stock worth $43,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Company Profile

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.