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Downgrade Alert for CH Robinson Worldwide (CHRW)

By James Quinn

CH Robinson Worldwide (NASDAQ:CHRW) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $71.44 on volume of 2.0 million shares, above average daily volume of 1.2 million.

There is potential upside of 2.8% for shares of CH Robinson Worldwide based on a current price of $71.44 and an average consensus analyst price target of $73.43. The stock should hit resistance at its 50-day moving average (MA) of $72.75, as well as support at its 200-day MA of $68.65.

C.H. Robinson Worldwide, Inc. provides multimodal transportation services and logistics solutions. The Company operates a network of offices in North America, Europe, Asia, South America, and the Middle East. C.H. Robinson provides a variety of logistics services, such as fresh produce sourcing and freight consolidation.

Over the past year, CH Robinson Worldwide has traded in a range of $59.71 to $76.10 and closed yesterday at $71.44, 20% above that low. The 200-day and 50-day moving averages have moved 0.22% higher and 0.14% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of CH Robinson Worldwide on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.44. Since that recommendation, shares of CH Robinson Worldwide have risen 9.9%. We continue to monitor CHRW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades ch robinson worldwide

Ticker(s): CHRW