JPMorgan Chase & Co. Upgrades C.H. Robinson Worldwide (NASDAQ:CHRW) to “Overweight”

JPMorgan Chase & Co. upgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a neutral rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $110.00 price target on the transportation company’s stock, up from their previous price target of $87.00.

CHRW has been the subject of several other reports. Bank of America raised C.H. Robinson Worldwide from an underperform rating to a buy rating and lifted their target price for the company from $76.00 to $99.00 in a research note on Monday, July 22nd. Robert W. Baird boosted their price objective on C.H. Robinson Worldwide from $80.00 to $88.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. Wolfe Research raised shares of C.H. Robinson Worldwide from an underperform rating to a peer perform rating in a research note on Thursday, April 11th. BMO Capital Markets boosted their price target on shares of C.H. Robinson Worldwide from $80.00 to $85.00 and gave the stock a market perform rating in a research note on Friday, May 3rd. Finally, TD Cowen raised their price objective on shares of C.H. Robinson Worldwide from $79.00 to $86.00 and gave the company a hold rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat, C.H. Robinson Worldwide has an average rating of Hold and an average price target of $94.06.

C.H. Robinson Worldwide Stock Down 3.5 %

Shares of NASDAQ CHRW opened at $98.63 on Thursday. C.H. Robinson Worldwide has a 12-month low of $65.00 and a 12-month high of $105.41. The firm’s 50-day simple moving average is $87.71 and its 200 day simple moving average is $80.19. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19. C.H. Robinson Worldwide had a net margin of 1.90% and a return on equity of 27.84%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. C.H. Robinson Worldwide’s revenue was up 1.4% compared to the same quarter last year. On average, research analysts expect that C.H. Robinson Worldwide will post 3.73 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. C.H. Robinson Worldwide’s payout ratio is 96.44%.

Institutional Investors Weigh In On C.H. Robinson Worldwide

Several institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of C.H. Robinson Worldwide by 13,682.5% in the 1st quarter. Van ECK Associates Corp now owns 2,662,511 shares of the transportation company’s stock valued at $202,723,000 after purchasing an additional 2,643,193 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of C.H. Robinson Worldwide by 21.1% during the first quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company’s stock worth $874,548,000 after buying an additional 2,003,158 shares in the last quarter. Pzena Investment Management LLC bought a new stake in C.H. Robinson Worldwide in the 1st quarter valued at approximately $66,474,000. Norges Bank acquired a new position in C.H. Robinson Worldwide during the 4th quarter worth approximately $52,341,000. Finally, Pinebridge Investments L.P. boosted its position in C.H. Robinson Worldwide by 105.5% during the 4th quarter. Pinebridge Investments L.P. now owns 593,653 shares of the transportation company’s stock worth $51,286,000 after acquiring an additional 304,709 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Company Profile

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.