Market Overview

C.H. Robinson's Q2 Beat Moves Select Transports Up

Related CHRW
Barclays Initiates Coverage On 4 Transportation Stocks
UPDATE: Barclays Initiates Coverage On C.H. Robinson Worldwide, Inc.
Dow Transports Slump on Profit Taking, Economic Worries (Fox Business)

C.H. Robinson Worldwide's (NASDAQ: CHRW) second-quarter earnings beat moved the transportation sector broadly higher Wednesday.

The sector has proven rocky recently, with the Dow Jones Transportation Index down in four of the past five trading days.

In the bull market of the past five years, however, it has substantially outperformed the S&P 100, gaining 130 percent versus the S&P's 101 percent.

Bank of America upgraded C.H. Robinson to Neutral from Underperform and raised its target from $52 to $68.

"The trucking market is facing tight capacity and rising spot rates," Bank of America's Ken Hoexter said. "We expect truck pricing will continue to outpace costs given the tight market."

C.H. Robinson gained 6.4 percent Wednesday.

Roadrunner Transportation Systems (NYSE: RRTS) is set to post earnings after the bell Wednesday, but rose 3.9 percent in the session.

Other issues gaining in the sector include Hub Group (NASDAQ: HUBG), up more than 2.01 percent; UTi Worldwide (NASDAQ: UTIW) up 2.4 percent; and ArcBest (NASDAQ: ARCB) up 3.4 percent.

The Dow Jones Transportation Average closed up 0.72 percent.

Latest Ratings for CHRW

DateFirmActionFromTo
Sep 2014BarclaysInitiates Coverage onEqual-weight
Sep 2014Stifel NicolausDowngradesHoldSell
Jul 2014Edward JonesUpgradesSellHold

View More Analyst Ratings for CHRW
View the Latest Analyst Ratings

Posted-In: Bank of America Ken HoexterAnalyst Color Earnings News Analyst Ratings Movers

 

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