Citigroup Inc. restated their neutral rating on shares of C.H. Robinson Worldwide (NASDAQ:CHRW) in a research note issued to investors on Wednesday, Stock Ratings News reports. The firm currently has a $57.00 price target on the stock, down from their previous price target of $60.00.
“CH Robinson hosted its first investor meeting in 13 years Tuesday and we came away struck that management did not answer arguably the most important question facing them. It assumes that net revenue margins will stabilize over the 3-5 year projected period, but did not provide a reason why other than a look at previous cycles. While we do not necessarily believe it’s possible for management to accurately predict, we would prefer to have heard a more compelling argument, and believe skepticism about growth targets may persist as a result. That said, we believe the company is trying to grow in a challenging market and the lowered guidance is more achievable in an environment of continued margin pressure. We continue to expect multiple compression to play out slowly, which coupled with a modest reacceleration of earnings growth post-2013 yields a largely neutral outlook.,” the firm’s analyst commented.
Shares of C.H. Robinson Worldwide (NASDAQ:CHRW) traded up 0.49% during mid-day trading on Wednesday, hitting $57.94. 569,063 shares of the company’s stock traded hands. C.H. Robinson Worldwide has a 1-year low of $53.74 and a 1-year 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 $8.786 billion and a price-to-earnings ratio of 15.87.
C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the 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 in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that C.H. Robinson Worldwide will post $2.73 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of C.H. Robinson Worldwide from a buy rating to a hold rating in a research note to investors on Wednesday. They now have a $60.00 price target on the stock, down previously from $65.00. Separately, 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. Nine equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $58.00.
C.H. Robinson Worldwide, Inc (NASDAQ:CHRW) is a third party logistics company.
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