C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Down – Here’s Why

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $109.64, but opened at $103.26. C.H. Robinson Worldwide shares last traded at $105.65, with a volume of 269,194 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CHRW shares. Citigroup started coverage on C.H. Robinson Worldwide in a report on Wednesday, October 9th. They set a “neutral” rating and a $115.00 price target for the company. JPMorgan Chase & Co. raised C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $87.00 to $110.00 in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. UBS Group raised C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $140.00 in a research report on Friday, October 4th. Finally, Barclays upped their price target on C.H. Robinson Worldwide from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.65.

C.H. Robinson Worldwide Stock Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $12.07 billion, a P/E ratio of 40.34, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The business has a 50 day moving average of $105.68 and a 200-day moving average of $92.84.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.53 billion. C.H. Robinson Worldwide had a return on equity of 27.84% and a net margin of 1.90%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. On average, sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 4.13 EPS for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $0.62 dividend. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, September 6th. C.H. Robinson Worldwide’s dividend payout ratio is currently 89.53%.

Insider Activity

In other news, insider Michael John Short sold 10,894 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $98.38, for a total transaction of $1,071,751.72. Following the transaction, the insider now directly owns 70,943 shares in the company, valued at approximately $6,979,372.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in C.H. Robinson Worldwide by 168.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 295 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 185 shares during the period. Quent Capital LLC lifted its holdings in C.H. Robinson Worldwide by 94.8% in the 2nd quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock worth $26,000 after buying an additional 146 shares during the period. Eastern Bank purchased a new stake in C.H. Robinson Worldwide in the 3rd quarter worth approximately $54,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of C.H. Robinson Worldwide in the 3rd quarter valued at approximately $55,000. Finally, Peoples Bank KS purchased a new position in shares of C.H. Robinson Worldwide in the 3rd quarter valued at approximately $66,000. 93.15% of the stock is currently 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.