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

Key Points

• CHRW shares fell sharply: The stock opened at $140.51 versus a prior close of $157.72 and was last trading near $140.34, below its 50-day and 200-day moving averages.
• Analyst sentiment remains positive but mixed: The consensus rating is “Moderate Buy,” with a $196.56 target price, although several firms recently reduced their targets.
• Recent operating results were strong: Quarterly EPS of $1.61 exceeded estimates of $1.53, while revenue rose 19.3% year over year to $4.93 billion; the company also pays a $0.63 quarterly dividend.

Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $157.72, but opened at $140.51. C.H. Robinson Worldwide shares last traded at $140.3370, with a volume of 1,221,534 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHRW shares. Truist Financial upped their target price on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Sanford C. Bernstein decreased their price target on shares of C.H. Robinson Worldwide from $153.00 to $151.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 11th. Janney Montgomery Scott set a $155.00 price target on shares of C.H. Robinson Worldwide in a research report on Tuesday, July 28th. Robert W. Baird dropped their price objective on shares of C.H. Robinson Worldwide from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of C.H. Robinson Worldwide from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, C.H. Robinson Worldwide currently has an average rating of "Moderate Buy" and a consensus target price of $196.56.

C.H. Robinson Worldwide Price Performance

The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.32 and a beta of 0.94. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.04. The stock's fifty day moving average price is $150.57 and its 200-day moving average price is $169.92.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%.The firm had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.35 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm's quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.19 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. C.H. Robinson Worldwide's payout ratio is presently 48.09%.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several hedge funds have recently bought and sold shares of CHRW. Burkett Financial Services LLC purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter worth approximately $25,000. Millstone Evans Group LLC lifted its stake in C.H. Robinson Worldwide by 79.8% in the first quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company's stock worth $27,000 after acquiring an additional 71 shares during the last quarter. Continuum Advisory LLC purchased a new position in C.H. Robinson Worldwide in the second quarter worth approximately $27,000. NBH Bank acquired a new position in C.H. Robinson Worldwide during the 2nd quarter worth approximately $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in C.H. Robinson Worldwide by 57.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company's stock worth $31,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across domestic and international markets.

Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air freight forwarding, customs services, and transportation management. C.H. Robinson also provides technology and data-driven tools designed to improve shipment planning, visibility, routing and logistics performance.

Founded in 1905 and headquartered in Eden Prairie, Minnesota, C.H.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.