Citigroup Upgrades C.H. Robinson Worldwide (NASDAQ:CHRW) to Buy

Citigroup upgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat reports. The firm currently has $127.00 target price on the transportation company’s stock, up from their prior target price of $110.00.

A number of other equities research analysts have also recently weighed in on the company. Evercore ISI raised their price target on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. UBS Group upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $140.00 in a report on Friday, October 4th. The Goldman Sachs Group lifted their price target on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $87.00 to $110.00 in a report on Thursday, August 1st. Finally, Susquehanna dropped their target price on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $107.63.

C.H. Robinson Worldwide Stock Down 0.2 %

Shares of NASDAQ:CHRW opened at $111.48 on Tuesday. The company has a market capitalization of $13.18 billion, a PE ratio of 38.57, a P/E/G ratio of 1.26 and a beta of 0.84. 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 company’s fifty day moving average is $106.56 and its 200-day moving average is $95.51. C.H. Robinson Worldwide has a 52 week low of $65.00 and a 52 week high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that C.H. Robinson Worldwide will post 4.37 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.48 annualized dividend and a dividend yield of 2.22%. C.H. Robinson Worldwide’s payout ratio is currently 85.81%.

Insider Activity

In other news, insider Michael John Short sold 10,408 shares of the business’s stock in a transaction 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 transaction, the insider now owns 70,943 shares of the company’s stock, valued at $7,794,507.41. The trade was a 12.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its holdings in shares of C.H. Robinson Worldwide by 6.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 145,268 shares of the transportation company’s stock worth $11,061,000 after acquiring an additional 8,449 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of C.H. Robinson Worldwide by 13.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 214,098 shares of the transportation company’s stock valued at $16,301,000 after purchasing an additional 26,156 shares during the period. First Eagle Investment Management LLC increased its stake in C.H. Robinson Worldwide by 21.1% during the 1st quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company’s stock worth $874,548,000 after purchasing an additional 2,003,158 shares in the last quarter. Wilkins Investment Counsel Inc. raised its holdings in C.H. Robinson Worldwide by 69.6% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 91,230 shares of the transportation company’s stock worth $6,946,000 after buying an additional 37,435 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in shares of C.H. Robinson Worldwide by 1.5% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 42,166 shares of the transportation company’s stock valued at $3,211,000 after buying an additional 612 shares during the period. 93.15% of the stock is currently owned by 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.