The Goldman Sachs Group Forecasts Strong Price Appreciation for C.H. Robinson Worldwide (NASDAQ:CHRW) Stock

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective raised by The Goldman Sachs Group from $97.00 to $107.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research firms have also commented on CHRW. Bank of America raised C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and increased their price target for the company from $76.00 to $99.00 in a research report on Monday, July 22nd. UBS Group raised shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $140.00 in a report on Friday, October 4th. Evercore ISI raised their price target on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price objective on C.H. Robinson Worldwide from $92.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $87.00 to $110.00 in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, C.H. Robinson Worldwide presently has an average rating of “Hold” and an average price target of $106.25.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $101.82 on Friday. The firm has a 50 day moving average of $105.72 and a 200-day moving average of $93.32. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The company has a quick ratio of 1.42, a current ratio of 1.49 and a debt-to-equity ratio of 0.86. 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 posted its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that C.H. Robinson Worldwide will post 4.27 earnings per share for the current year.

C.H. Robinson Worldwide Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.48 annualized dividend and a yield of 2.44%. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. C.H. Robinson Worldwide’s payout ratio is 85.81%.

Insider Activity

In related news, insider Michael John Short sold 10,894 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $98.38, for a total value of $1,071,751.72. Following the completion of the sale, the insider now owns 70,943 shares in the company, valued at $6,979,372.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.47% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of C.H. Robinson Worldwide by 2.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 413,068 shares of the transportation company’s stock valued at $31,451,000 after purchasing an additional 8,783 shares during the last quarter. Norden Group LLC bought a new stake in shares of C.H. Robinson Worldwide in the 1st quarter valued at about $208,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in C.H. Robinson Worldwide by 233.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,143 shares of the transportation company’s stock valued at $8,158,000 after acquiring an additional 75,043 shares during the period. BNP Paribas Financial Markets grew its position in C.H. Robinson Worldwide by 7.8% during the 1st quarter. BNP Paribas Financial Markets now owns 168,056 shares of the transportation company’s stock worth $12,796,000 after acquiring an additional 12,162 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in C.H. Robinson Worldwide by 30.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 144,984 shares of the transportation company’s stock worth $11,039,000 after purchasing an additional 33,995 shares during the period. 93.15% of the stock is owned by hedge funds and other 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.