C.H. Robinson Worldwide (NASDAQ:CHRW) Reaches New 52-Week High – What’s Next?

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $210.27 and last traded at $209.42, with a volume of 1107898 shares. The stock had previously closed at $205.80.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHRW. Citigroup initiated coverage on C.H. Robinson Worldwide in a report on Wednesday, July 15th. They set a “market outperform” rating on the stock. Wells Fargo & Company lifted their price target on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group raised C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and upped their price target for the stock from $195.00 to $200.00 in a research note on Wednesday, May 20th. Citizens Jmp began coverage on C.H. Robinson Worldwide in a report on Wednesday, July 15th. They issued a “market perform” rating and a $235.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.62.

C.H. Robinson Worldwide Stock Up 1.8%

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $185.27 and its 200-day moving average price is $180.11. The stock has a market capitalization of $24.68 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.11. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.11 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. C.H. Robinson Worldwide’s payout ratio is 51.01%.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wedge Capital Management L L P NC raised its position in shares of C.H. Robinson Worldwide by 0.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 50,211 shares of the transportation company’s stock worth $9,457,000 after purchasing an additional 297 shares during the last quarter. Handelsbanken Fonder AB increased its stake in C.H. Robinson Worldwide by 12.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 36,800 shares of the transportation company’s stock valued at $6,931,000 after purchasing an additional 4,000 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in C.H. Robinson Worldwide by 2.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 6,164 shares of the transportation company’s stock valued at $1,161,000 after purchasing an additional 167 shares in the last quarter. Sax Wealth Advisors LLC purchased a new position in C.H. Robinson Worldwide in the second quarter worth about $286,000. Finally, Czech National Bank raised its holdings in C.H. Robinson Worldwide by 3.9% in the second quarter. Czech National Bank now owns 33,551 shares of the transportation company’s stock worth $6,319,000 after buying an additional 1,245 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.