UBS Maintains a 'Buy' on C.H. Robinson Worldwide (CHRW); Q2 Miss May Provide Buying Opportunity

UBS maintains a 'Buy' on C.H. Robinson Worldwide (NASDAQ: CHRW) price target lowered by $1 to $92.

UBS analyst says, "CHRW reported Q2 EPS of $0.67, falling short of UBS and Street estimates of $0.69. Transportation net revenue growth of 19% y/y was in line with our forecast and driven by a 15.5% increase in gross revenue and gross margin expansion of 40 bps. Sourcing was the primary culprit behind the EPS miss, with net revenue declining 14% y/y vs. our -7% estimate on gross revenue -11% (largely lost business from Wal-Mart’s global sourcing realignment) and margins compressing 30 bps. EBIT margin (% net revenue) expanded 20 bps y/y, with operating costs +14.2% vs. total net revenue +14.6%."

For more ratings news on C.H. Robinson Worldwide click here and for the rating history of C.H. Robinson Worldwide click here.

Shares of C.H. Robinson Worldwide closed at $80.25 yesterday.

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