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C.H. Robinson (CHRW) Grows Border Footprint in Laredo,TX
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Freight broker C.H. Robinson Worldwide, Inc. (CHRW - Free Report) has opened a new facility to speed up trade across the Mexico border, in a bid to meet buoyant demand for border logistics facilities owing to nearshoring expansion. This has soared since 2020, boosted by declining U.S.-China trade relations and shifting global supply chains caused by the pandemic.
CHRW has opened a 400,000 square-foot cross-border facility in Laredo, TX. It’s the largest cross-border logistics facility of its kind. Laredo’s proximity to Monterrey was a key factor in this move. The two cities are about 140 miles apart. Opening this facility in Laredo so close to Monterrey provides CHRW with major capacity and opportunities.
The facility includes 154 dock doors and room for 700 trailers, while expanding the company’s footprint along the U.S.-Mexico border to 1.5 million square feet of logistics space. CHRW has been operating in Mexico for over 30 years.
CHRW’s new distribution center in Laredo has dock doors on both sides of the facility, which helps to accelerate the transfer of freight from Mexican carriers to U.S. carriers. Further the center also aims to handle as many as 350 shipments a day in reduced time.
Zacks Rank
CHRW currently carries Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Triton International Limited .
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.
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C.H. Robinson (CHRW) Grows Border Footprint in Laredo,TX
Freight broker C.H. Robinson Worldwide, Inc. (CHRW - Free Report) has opened a new facility to speed up trade across the Mexico border, in a bid to meet buoyant demand for border logistics facilities owing to nearshoring expansion. This has soared since 2020, boosted by declining U.S.-China trade relations and shifting global supply chains caused by the pandemic.
CHRW has opened a 400,000 square-foot cross-border facility in Laredo, TX. It’s the largest cross-border logistics facility of its kind. Laredo’s proximity to Monterrey was a key factor in this move. The two cities are about 140 miles apart. Opening this facility in Laredo so close to Monterrey provides CHRW with major capacity and opportunities.
The facility includes 154 dock doors and room for 700 trailers, while expanding the company’s footprint along the U.S.-Mexico border to 1.5 million square feet of logistics space. CHRW has been operating in Mexico for over 30 years.
CHRW’s new distribution center in Laredo has dock doors on both sides of the facility, which helps to accelerate the transfer of freight from Mexican carriers to U.S. carriers. Further the center also aims to handle as many as 350 shipments a day in reduced time.
Zacks Rank
CHRW currently carries Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks for investors interested in the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and Triton International Limited .
GATX, which presently carries a Zacks Rank #2 (Buy), has strengthened its railcar leasing operations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For third-quarter and full-year 2023, GATX’s earnings are expected to register 36.6% and 14.3% growth, respectively, on a year-over-year basis.
Triton, which currently carries a Zacks Rank #2, is benefiting from its consistent efforts to reward shareholders through dividends and share repurchases.
Triton has an impressive liquidity position. Its current ratio (a measure of liquidity) was 3.83 at the end of second-quarter 2023. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.