Deutsche Bank lowered shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a buy rating to a hold rating in a report released on Wednesday, TheFlyOnTheWall.com reports. Deutsche Bank currently has $60.00 price objective on the stock, down from their previous price objective of $65.00.
“Yesterday, CHRW hosted its second-ever Investor Day in New York, NY. The company discussed its long-term growth objectives and productivity initiatives as well as both the secular and cyclical factors that are impacting its truck brokerage and freight forwarding operations. Although we continue to believe that the bears are underestimating CHRW’s growth potential, we now see the shares as fairly valued. We have lowered our 2014 EPS estimate due to weaker-than-expected operating leverage (due to a combination of mix [more freight forwarding] and headcount growth/wage inflation that will likely increase as CHRW takes market share. HOLD.,” the firm’s analyst commented.
CHRW has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein cut their price target on shares of C.H. Robinson Worldwide from $72.00 to $68.00 in a research note to investors on Tuesday, November 12th. They now have an outperform rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of C.H. Robinson Worldwide from $48.00 to $52.00 in a research note to investors on Thursday, November 7th. They now have an underperform rating on the stock. Finally, analysts at Cowen and Company cut their price target on shares of C.H. Robinson Worldwide from $56.00 to $54.00 in a research note to investors on Wednesday, November 6th. They now have a market perform rating on the stock. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $58.00.
Shares of C.H. Robinson Worldwide (NASDAQ:CHRW) opened at 57.66 on Wednesday. C.H. Robinson Worldwide has a 52 week low of $53.74 and a 52 week high of $67.93. The stock’s 50-day moving average is $59.61 and its 200-day moving average is $58.49. The company has a market cap of $8.743 billion and a P/E ratio of 16.22.
C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, November 6th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the company posted $0.72 earnings per share. C.H. Robinson Worldwide’s revenue was up 15.1% compared to the same quarter last year. Analysts expect that C.H. Robinson Worldwide will post $2.73 EPS for the current fiscal year.
C.H. Robinson Worldwide, Inc (NASDAQ:CHRW) is a third party logistics company.
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