Bank of America Has Lowered Expectations for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target cut by research analysts at Bank of America from $130.00 to $122.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential upside of 20.26% from the company’s current price.

CHRW has been the topic of several other research reports. Stephens reissued an “equal weight” rating and set a $111.00 price target on shares of C.H. Robinson Worldwide in a research report on Thursday. Evercore ISI boosted 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. Citigroup raised shares of C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 13th. Stifel Nicolaus upped their target price 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. Finally, Wells Fargo & Company raised shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $118.00 to $130.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.50.

C.H. Robinson Worldwide Price Performance

CHRW traded down $6.48 on Thursday, hitting $101.45. 1,385,028 shares of the company’s stock were exchanged, compared to its average volume of 965,647. 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 current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $105.85 and a 200-day moving average price of $103.75. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 0.87 and a beta of 0.83.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, January 29th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 will post 4.39 earnings per share for the current year.

Insider Buying and Selling at C.H. Robinson Worldwide

In other news, insider Michael D. Castagnetto sold 2,032 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $103.81, for a total value of $210,941.92. Following the completion of the sale, the insider now directly owns 34,469 shares of the company’s stock, valued at approximately $3,578,226.89. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael John Short sold 10,408 shares of the 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 of the company’s stock, valued at $7,794,507.41. The trade was a 12.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of C.H. Robinson Worldwide by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,956,219 shares of the transportation company’s stock worth $436,648,000 after purchasing an additional 142,116 shares during the period. Geode Capital Management LLC raised its position in C.H. Robinson Worldwide by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,104,011 shares of the transportation company’s stock worth $341,555,000 after acquiring an additional 42,189 shares in the last quarter. Van ECK Associates Corp raised its position in C.H. Robinson Worldwide by 92,841.1% in the fourth quarter. Van ECK Associates Corp now owns 3,007,574 shares of the transportation company’s stock worth $310,742,000 after acquiring an additional 3,004,338 shares in the last quarter. FMR LLC raised its position in C.H. Robinson Worldwide by 2,259.1% in the third quarter. FMR LLC now owns 2,557,791 shares of the transportation company’s stock worth $282,303,000 after acquiring an additional 2,449,367 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in C.H. Robinson Worldwide by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 1,411,891 shares of the transportation company’s stock worth $155,830,000 after acquiring an additional 36,769 shares in the last quarter. 93.15% of the stock is 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.