C.H. Robinson Worldwide (CHRW) – Investment Analysts’ Weekly Ratings Changes
C.H. Robinson Worldwide (NASDAQ: CHRW) received a number of ratings updates from brokerages and research firms in the last week:
- C.H. Robinson Worldwide was upgraded by analysts at FBR Capital from a “market perform” rating to an “outperform” rating. They now have a $69.00 price target on the stock, up previously from $53.00.
- C.H. Robinson Worldwide was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating. They now have a $71.00 price target on the stock, up previously from $64.00. They wrote, “We are raising our rating on C.H. Robinson to Buy from Neutral. The company is in the midst of significant strategic shifts, with its purchase of Phoenix for $635 million on September 25, as it moves to build scale in the global freight forwarding market, while liquidating an asset, T-Chek (announced yesterday), for a cash sale of $302.5 million pre-tax. We believe these steps, combined with its willingness to lever to improve returns, as well as the potential environment of expanded net margins given the truckload weakness, will aid C.H. Robinson move to return its growth profile.”
- C.H. Robinson Worldwide had its “neutral” rating reaffirmed by analysts at Goldman Sachs. They now have a $56.00 price target on the stock.
- C.H. Robinson Worldwide had its “neutral” rating reaffirmed by analysts at JPMorgan Chase. They now have a $65.00 price target on the stock.
- C.H. Robinson Worldwide had its price target raised by analysts at Jefferies Group from $60.00 to $66.00. They now have a “hold” rating on the stock. They wrote, “CHRW reported 3Q EPS that was a little light vs. buyside expectations that had been creeping higher in recent weeks. Gross yields improved sequentially (15.0% in 3Q vs. 14.4% in 2Q), although we think this was broadly anticipated following 3Q reports out of the TL carriers. Overall, the report was good but we saw little to attract the incremental buyer. Raise PT to $66 (from $60), but reiterate Hold.”
- C.H. Robinson Worldwide had its price target raised by analysts at Sterne Agee to $75.00. They wrote, “Although CHRW posted a modestly better-than-expected 3Q, there are clear signs that the truck brokerage business is becoming more profitable, with two recent acquisitions, a divestiture, and a new approach to capital structure to drive EPS growth. We are changing our view of the EPS prospects and attractiveness of the shares, and applaud management for recognizing their dilemma and using their balance sheet to solve it.”
- C.H. Robinson Worldwide had its price target raised by analysts at Goldman Sachs to $66.00. They wrote, “Purchased transportation costs remain a concern, however, supply side constraints have loosened thus far in 4Q, driving flat net revenue margins in October. While we expect cost pressures to persist in the near-term, we note that comps would get easier from here. … We raise our 12-month price target for CHRW to $66 from $56 as we roll forward our NTM EPS estimates. We value the shares using a 22.4X forward multiple, from 19.9x previously, which assumes a smaller 10% discount from 20% (old) to its mean since 2005 as margins would begin to expand again.”
Shares of C.H. Robinson Worldwide, Inc. traded up 2.69% during mid-day trading on Thursday, hitting $59.10. C.H. Robinson Worldwide, Inc. has a one year low of $50.81 and a one year high of $71.76. The company has a market cap of $9.502 billion and a P/E ratio of 20.93.
C.H. Robinson Worldwide, Inc. (C.H. Robinson) is a third party logistics company. The Company provides freight transportation services and logistics solutions to companies of all sizes, in a variety of industries.