Yahoo Finance C.H. Robinson (CHRW) Joins Forces With Triumph Financial
In a bid to offer innovative payment solutions to the transportation industry, C.H. Robinson CHRW inked a deal with Triumph Financial TFIN. CHRW’s decision to join TFIN’s freight payments platform implies that the former’s 450,000 contract carriers will have access to the transportation finance solutions on the TriumphPay Network.
The TriumphPay Network refers to a platform that connects brokers, shippers, factors and carriers, in turn, resulting in a streamlined payment experience. By utilizing TriumphPay’s technology, C.H. Robinson will be able to offer better payment experiences to its carriers apart from automating back-office tasks.
The freight broker, through this partnership, will be in a position to bolster payment reliability and processing times, in turn, boosting its customer base and revenue stream. Michael Castagnetto, president of North American Surface Transportation at C.H. Robinson said, “By joining forces, we have the ability to deliver financial payment offerings that streamline processes, improve efficiencies and foster growth with and for carriers. Together, we plan to unlock innovation that helps move the industry forward.”
Price Performance
Due to the freight downturn and unfavorable pricing, shares of C.H. Robinson declined 9.3% in a year’s time compared with its industry’s decline of 10%.
Image Source: Zacks Investment Research
Zacks Rank
C.H. Robinson currently carries a Zacks Rank #3 (Hold). Triumph Financial carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Some better-ranked stocks for investors’ consideration in the Zacks Transportation sector are SkyWest SKYW and Kirby Corporation KEX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
SkyWest has an expected earnings growth rate of 787% for the current year.
SKYW has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 128%. Shares of SkyWest have jumped 104.1% in the past year.
KEX has an expected earnings growth rate of 42.2% for the current year.
The company has an encouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 10.3%. Shares of Kirby have climbed 59.2% in the past year.
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C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
SkyWest, Inc. (SKYW) : Free Stock Analysis Report
Kirby Corporation (KEX) : Free Stock Analysis Report
Triumph Financial, Inc. (TFIN) : Free Stock Analysis Report
