Logistics provider C.H. Robinson Worldwide, Inc. (CHRW) on Thursday caught a big downgrade from analysts at FBR Capital Markets.
The firm said it cut its rating on CHRW from “Outperform” to “Market Perform” with a $65 price target. That target suggests a 10% upside to the stock’s Wednesday closing price of $59.08. FBR Capital noted that an upturn in CHRW’s industry could take several quarters to materialize.
C.H. Robinson shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of C.H. Robinson Worldwide (CHRW) have a 2.23% dividend yield, based on last night’s closing stock price of $59.08. The stock has technical support in the $55 price area. If the shares can firm up, we see overhead resistance around the $62-$65 price levels.
C.H. Robinson Worldwide, Inc. (CHRW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.