Werner Enterprises (NASDAQ:WERN) Price Target Cut to $22.00 by Analysts at Wells Fargo & Company

Werner Enterprises (NASDAQ:WERN) had its price objective reduced by investment analysts at Wells Fargo & Company from $25.00 to $22.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 20.09% from the company’s previous close.

WERN has been the topic of several other research reports. Susquehanna cut their price target on Werner Enterprises from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Evercore ISI cut their target price on shares of Werner Enterprises from $25.00 to $23.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 30th. Baird R W raised shares of Werner Enterprises to a “strong sell” rating in a research report on Tuesday, July 1st. Wall Street Zen raised shares of Werner Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Werner Enterprises in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, Werner Enterprises has a consensus rating of “Reduce” and an average price target of $29.71.

Werner Enterprises Trading Up 0.3%

NASDAQ WERN traded up $0.08 on Monday, reaching $27.53. The stock had a trading volume of 39,847 shares, compared to its average volume of 877,144. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 1.48 and a beta of 1.06. Werner Enterprises has a 12-month low of $23.02 and a 12-month high of $42.48. The stock has a fifty day moving average price of $27.75 and a two-hundred day moving average price of $27.78.

Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Werner Enterprises had a net margin of 1.77% and a return on equity of 0.92%. The company had revenue of $753.15 million for the quarter, compared to analyst estimates of $736.09 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Werner Enterprises will post 1.27 EPS for the current fiscal year.

Werner Enterprises declared that its board has authorized a stock buyback program on Monday, August 11th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WERN. Brooklyn Investment Group raised its stake in Werner Enterprises by 163.5% during the first quarter. Brooklyn Investment Group now owns 959 shares of the transportation company’s stock worth $28,000 after purchasing an additional 595 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Werner Enterprises in the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of Werner Enterprises by 57.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,018 shares of the transportation company’s stock worth $28,000 after buying an additional 373 shares during the period. Fifth Third Bancorp raised its holdings in shares of Werner Enterprises by 306.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company’s stock worth $35,000 after purchasing an additional 976 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Werner Enterprises by 413.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,764 shares during the period. 89.32% of the stock is currently owned by hedge funds and other institutional investors.

Werner Enterprises Company Profile

Werner Enterprises, Inc, together with its subsidiaries, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, and internationally. The company operates through two segments, Truckload Transportation Services and Werner Logistics.