Werner Enterprises (NASDAQ:WERN) Stock Price Target Lowered at Wells Fargo & Company

Key Points

• Wells Fargo lowered Werner Enterprises’ price target from $46 to $37 while maintaining an “equal weight” rating, implying roughly 10.4% upside from the stock’s $33.53 price.
• Analyst sentiment remains mixed but leans toward “Hold”: MarketBeat reports a consensus target of $40.38, with one Strong Buy, four Buys, eight Holds, and three Sell ratings.
• Werner’s latest quarter fell short of expectations, with EPS of $0.22 versus $0.24 expected and revenue of $813.36 million versus $931.12 million forecast, despite revenue increasing 24% year over year.

Werner Enterprises (NASDAQ:WERN - Get Free Report) had its price target reduced by research analysts at Wells Fargo & Company from $46.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's price objective indicates a potential upside of 10.36% from the stock's current price.

Several other equities analysts have also recently weighed in on WERN. TD Cowen dropped their price objective on Werner Enterprises from $43.00 to $41.00 and set a "hold" rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley upped their target price on shares of Werner Enterprises from $47.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Werner Enterprises in a research report on Friday, July 24th. Robert W. Baird upgraded shares of Werner Enterprises from a "neutral" rating to an "outperform" rating and set a $43.00 price target on the stock in a report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Werner Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $40.38.

Werner Enterprises Price Performance

Shares of NASDAQ WERN opened at $33.53 on Tuesday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -45.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.42 and a current ratio of 1.45. Werner Enterprises has a fifty-two week low of $23.06 and a fifty-two week high of $47.49. The firm's 50-day simple moving average is $37.11 and its 200 day simple moving average is $37.69.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). The company had revenue of $813.36 million during the quarter, compared to analysts' expectations of $931.12 million. Werner Enterprises had a positive return on equity of 1.18% and a negative net margin of 1.42%.The business's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. As a group, research analysts anticipate that Werner Enterprises will post 1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Werner Enterprises

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP purchased a new position in shares of Werner Enterprises during the 2nd quarter valued at $38,000. Global Retirement Partners LLC purchased a new stake in Werner Enterprises in the 2nd quarter worth approximately $45,000. Integrated Wealth Concepts LLC purchased a new position in Werner Enterprises during the second quarter worth about $65,000. Bayforest Capital Ltd purchased a new position in Werner Enterprises in the 2nd quarter worth approximately $128,000. Finally, PNC Financial Services Group Inc. grew its position in Werner Enterprises by 40.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the transportation company's stock worth $96,000 after acquiring an additional 942 shares in the last quarter. Institutional investors own 89.32% of the company's stock.

Werner Enterprises Company Profile

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by C.L. Werner, the company provides freight transportation and supply chain services to customers across North America.

The company's operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports general commodities through one-way and dedicated fleets, while its logistics operations arrange transportation using a network of carriers and other service providers.

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