SIG analyst Bascome Majors maintains $C.H. Robinson Worldwide (CHRW.US)$ with a hold rating, and adjusts the target price from $120 to $115.
According to TipRanks data, the analyst has a success rate of 64.7% and a total average return of 11.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $C.H. Robinson Worldwide (CHRW.US)$'s main analysts recently are as follows:
The company has demonstrated consistent cost control alongside significant growth in ocean freight forwarding, leading to a substantial outperformance in the third quarter. It is anticipated that management will present more ambitious long-term productivity goals at the forthcoming analyst meeting.
C.H. Robinson delivered Q3 results that surpassed expectations, primarily driven by a transient improvement in Forwarding. The company seems to be advancing well with its new operating model, especially within the core NAST segment, which performed modestly above projections even amidst challenging economic conditions.
The firm mentioned that while revenue met expectations, organic growth was lighter, and margins fell short of the model for both the quarter and the guidance. It was noted that logistics are improving as anticipated, yet persisting weakness in other areas continues to dampen overall growth.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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