The S&P 500 was rising 15.06 points, or 1.1%, to 1,387.03.
Shares of C.H. Robinson fell 6.53% Wednesday morning to $61.53. The company reported Tuesday first-quarter earnings of $106.5 million, or 65 cents a share, up from year-earlier earnings of $97 million, or 59 cents a share.
C.H. Robinson reported first-quarter revenue of $2.55 billion, which rose from year-earlier revenue of $2.37 billion but missed analysts' expectations of $2.6 billion.Shares of C.H. Robinson hit a 52-week low Wednesday of $61.40. The stock's 52-week high of $82.40 was set on July 7. C.H. Robinson trades at an estimated price-to-earnings ratio for next year of 18.67 times; the average for trucking companies is 14.45. For comparison, J.B. Hunt Transport Services (JBHT) has a lower forward P/E of 18.53. Seventeen of the 27 analysts who cover C.H. Robinson rated it hold. Eight analysts gave the stock a buy rating and two rated it sell. TheStreet Ratings gives C.H. Robinson a B grade with a buy rating and $76.39 price target. The stock has fallen 11.85% year to date.
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