C.H. Robinson Worldwide Receives Price Target Adjustment from Bank of America

C.H. Robinson Worldwide (NASDAQ:CHRW) has seen its price target revised by Bank of America, which lowered it from $122.00 to $119.00. This adjustment was announced in a report published on Friday. Despite the decrease in price target, Bank of America still maintains a "buy" rating on the stock, indicating confidence in the company's future performance.

Bank of America's updated price target implies a potential upside of approximately 17.03% from C.H. Robinson's current trading price.

Analyst Opinions on C.H. Robinson Worldwide

Additional insights from other equity analysts reveal varying perspectives on C.H. Robinson's stock. For instance, JPMorgan Chase & Co. reduced their price target for the company from $133.00 to $131.00 while also issuing an "overweight" rating. Meanwhile, Citigroup adjusted their price objective from $130.00 to $124.00, maintaining a "buy" rating.

Barclays increased their target price from $95.00 to $100.00 but held an "underweight" rating on the stock. Susquehanna lowered their target from $127.00 to $117.00 while giving a "positive" rating. Additionally, Truist Financial started coverage on C.H. Robinson with a "buy" rating and set a price objective of $115.00.

Overall, one analyst has assigned a sell rating, eight have rated it as a hold, and thirteen have offered a buy rating, indicating varied sentiment among market professionals. According to MarketBeat data, the average rating for the stock is "Moderate Buy," with an average price target of $118.89.

C.H. Robinson Worldwide Stock Performance

On Friday, C.H. Robinson's shares opened at $101.68. The company's stock has experienced a range, with a 12-month low of $65.00 and a high of $114.82. Key financial ratios include a current ratio of 1.28, quick ratio of 1.49, and a debt-to-equity ratio of 0.54. The market capitalization stands at $12.07 billion, with a price-to-earnings ratio of 26.41 and a PEG ratio of 1.16. The stock's 50-day moving average is $100.63 and the 200-day moving average is $104.37.

Recently, C.H. Robinson Worldwide released its quarterly earnings data, revealing an earnings per share (EPS) of $1.21, surpassing analysts' expectations of $1.10 by $0.11. The company's net margin is 2.63%, with a return on equity of 34.53%. Projections suggest that C.H. Robinson will post an EPS of 4.83 for the current fiscal year.

Insider Activity and Institutional Investments

In related insider trading, Angela K. Freeman sold 8,000 shares of the company at an average price of $100.39, totaling approximately $803,120. Following this transaction, Freeman retains 77,027 shares valued at around $7,732,740. Meanwhile, Michael D. Castagnetto sold 5,016 shares at $99.60, leaving him with 34,586 shares worth approximately $3,444,765.

In the last ninety days, insiders have sold a total of 15,048 shares of company stock valued at around $1,513,656. Currently, insiders hold about 1.47% of the company's stock.

Institutional investments have also shifted, with several hedge funds increasing or initiating their positions in C.H. Robinson Worldwide. Notable additions include the National Pension Service, Proficio Capital Partners LLC, and Quarry LP, among others. Institutional investors collectively own 93.15% of the company's stock.

Company Overview

C.H. Robinson Worldwide, Inc., along with its subsidiaries, specializes in providing freight transportation and logistics services both in the United States and internationally. The company operates through two main segments: North American Surface Transportation and Global Forwarding, offering services including truckload and less than truckload transportation, intermodal services, and freight forwarding.

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