FBR Capital Downgrades C.H Robinson (CHRW)
FBR Capital reported on Friday that it has downgraded logistics company, C.H. Robinson Worldwide, Inc. (CHRW).
The firm has lowered its rating on CHRW from “Outperform” to “Underperform,” and has lowered the company’s price target from $80 to $55. This price target suggests a -10% decline from the stock’s current price of $60.59.
An analyst from the firm commented, “CHRW has sold off dramatically following six of its last eight earnings releases, and we believe there could be a material stepdown after the company reports 1Q13 results, based on brokerage results from J.B. Hunt and general caution regarding the brokerage industry. While we have been supporters of a rebound in brokerage fundamentals, it is clear to us that we remain quite far from seeing the tight-market “tipping point” at which brokers gain pricing power.”
C.H. Robinson shares were down -$1.10, or -1.82% during premarket trading Friday. The stock has declined -7% in the past year.
The Bottom Line
Shares of C.H. Robinson Worldwide, Inc. (CHRW) have a 2.31% yield, based on Thursday’s closing price of $60.59.
C.H. Robinson Worldwide, Inc. (CHRW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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