Stifel Nicolaus downgraded C.H. Robinson Worldwide CHRW from Hold to Sell.
Stifel Nicolaus commented, "We are downgrading the common shares of C.H. Robinson from Hold to Sell as they appear overvalued, in our view. … We believe that the company will continue to suffer from the law of large numbers and post unimpressive (<10% per year) year-over-year EPS growth versus the company's target EPS growth of 15% per year. We also believe that the company's truckload brokerage business has come under modest margin pressure in recent quarters as a result of the relative balance that has, of late, existed between supply and demand within the truckload sector."
C.H. Robinson Worldwide closed at $65.35 on Tuesday.
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