C.H. Robinson Worldwide, Inc. (CHRW - Free Report) has announced the acquisition of Dema Service S.p.A, an Italy-based logistics company, providing road transportation services across Europe.
The buyout is a notable move, strengthening the company’s presence in Italy, which is believed to be one of the largest road transportation markets in Europe. The combined entity will offer better service to customers.
Notably, C.H. Robinson will integrate the acquired company into its European Surface Transportation division and Navisphere, the single global technology platform.
Earlier this year, the company bought Madrid, Spain-based freight forwarder — The Space Cargo Group — thereby expanding its base across Spain and Columbia. The consolidation is anticipated to be accretive to C.H. Robinson’s results in the current year. Notably, The Space Cargo Group products will be part of the company’s Global Forwarding unit. (Read more: C.H. Robinson Buys Space Cargo for $48M, Expands Portfolio).
Successive buyouts in such a short span highlight C.H. Robinson’s activeness on the acquisition front. Apart from the aforementioned acquisitions, the company purchased Milgram & Company in 2018 and APC Logistics in 2016.
Zacks Rank & Key Picks
C.H. Robinson carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. (SKYW - Free Report) , Hertz Global Holdings, Inc (HTZ - Free Report) and GATX Corporation (GATX - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), GATX and Hertz Global carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, Hertz Global and GATX have gained more than 33%, 14% and 3%, respectively, so far this year.
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C.H. Robinson Worldwide, Inc. (CHRW - Free Report) has announced the acquisition of Dema Service S.p.A, an Italy-based logistics company, providing road transportation services across Europe.
The buyout is a notable move, strengthening the company’s presence in Italy, which is believed to be one of the largest road transportation markets in Europe. The combined entity will offer better service to customers.
Notably, C.H. Robinson will integrate the acquired company into its European Surface Transportation division and Navisphere, the single global technology platform.
Earlier this year, the company bought Madrid, Spain-based freight forwarder — The Space Cargo Group — thereby expanding its base across Spain and Columbia. The consolidation is anticipated to be accretive to C.H. Robinson’s results in the current year. Notably, The Space Cargo Group products will be part of the company’s Global Forwarding unit. (Read more: C.H. Robinson Buys Space Cargo for $48M, Expands Portfolio).
Successive buyouts in such a short span highlight C.H. Robinson’s activeness on the acquisition front. Apart from the aforementioned acquisitions, the company purchased Milgram & Company in 2018 and APC Logistics in 2016.
Zacks Rank & Key Picks
C.H. Robinson carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. (SKYW - Free Report) , Hertz Global Holdings, Inc (HTZ - Free Report) and GATX Corporation (GATX - Free Report) . While SkyWest sports a Zacks Rank #1 (Strong Buy), GATX and Hertz Global carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, Hertz Global and GATX have gained more than 33%, 14% and 3%, respectively, so far this year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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