C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Down Following Analyst Downgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s share price gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $130.00 to $122.00. The stock had previously closed at $107.93, but opened at $99.60. Bank of America currently has a buy rating on the stock. C.H. Robinson Worldwide shares last traded at $103.00, with a volume of 477,971 shares.

Several other analysts have also commented on CHRW. Evercore ISI raised their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upgraded shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $118.00 to $130.00 in a research report on Monday, December 9th. Stifel Nicolaus raised their price target on shares of C.H. Robinson Worldwide from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Raymond James dropped their price target on shares of C.H. Robinson Worldwide from $123.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of C.H. Robinson Worldwide from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $116.50.

Insiders Place Their Bets

In other news, insider Michael D. Castagnetto sold 2,032 shares of the business’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 value of $210,941.92. Following the sale, the insider now directly owns 34,469 shares of the company’s stock, valued at approximately $3,578,226.89. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,143,526.96. Following the completion of the transaction, the insider now owns 70,943 shares of the company’s stock, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their position. The disclosure for this sale can be found here. 1.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its holdings in shares of C.H. Robinson Worldwide by 83.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 244 shares of the transportation company’s stock valued at $27,000 after buying an additional 111 shares in the last quarter. Quarry LP raised its position in C.H. Robinson Worldwide by 76.7% in the 3rd quarter. Quarry LP now owns 394 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 171 shares during the last quarter. Missouri Trust & Investment Co purchased a new stake in C.H. Robinson Worldwide in the 4th quarter valued at $41,000. Brooklyn Investment Group raised its position in C.H. Robinson Worldwide by 213.5% in the 4th quarter. Brooklyn Investment Group now owns 464 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 316 shares during the last quarter. Finally, Eastern Bank purchased a new position in C.H. Robinson Worldwide during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

The company has a market cap of $11.87 billion, a PE ratio of 34.75, a P/E/G ratio of 0.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $105.69 and its 200 day simple moving average is $103.72.

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 for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. As a group, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.39 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.62 dividend. The ex-dividend date was Friday, December 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.47%. C.H. Robinson Worldwide’s payout ratio is 64.42%.

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.