Werner Enterprises (NASDAQ:WERN) Price Target Lowered to $26.00 at Bank of America

Key Points

• Bank of America has lowered its target price for Werner Enterprises (NASDAQ:WERN) from $27.00 to $26.00, maintaining an "underperform" rating which suggests a potential downside of 6.36% from the current price.
• In addition to Bank of America, multiple analysts have expressed bearish views, with Evercore ISI and Robert W. Baird both assigning "underperform" ratings and target prices around $25.00.
• Werner Enterprises reported a net margin of 1.77% and a quarterly revenue decrease of 1.0% compared to the same quarter last year, but surpassed EPS expectations by reporting $0.11 against a consensus estimate of $0.05.

Werner Enterprises (NASDAQ:WERN - Free Report) had its price objective reduced by Bank of America from $27.00 to $26.00 in a report released on Wednesday,Benzinga reports. They currently have an underperform rating on the transportation company's stock.

A number of other equities research analysts have also recently commented on WERN. Evercore ISI lifted their price objective on Werner Enterprises from $21.00 to $25.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group raised Werner Enterprises from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $25.00 to $39.00 in a research note on Monday, June 2nd. Citigroup boosted their target price on Werner Enterprises from $29.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Robert W. Baird assumed coverage on Werner Enterprises in a research note on Tuesday, July 1st. They issued an "underperform" rating and a $25.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on Werner Enterprises from $24.00 to $25.00 and gave the company an "underweight" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Werner Enterprises has a consensus rating of "Reduce" and a consensus target price of $30.43.

Werner Enterprises Trading Down 2.4%

Shares of Werner Enterprises stock traded down $0.69 during trading on Wednesday, reaching $28.01. 557,715 shares of the company were exchanged, compared to its average volume of 612,027. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.51. Werner Enterprises has a twelve month low of $23.02 and a twelve month high of $42.48. The business has a 50-day moving average price of $28.26 and a 200-day moving average price of $28.25. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 1.56 and a beta of 1.09.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.The business had revenue of $753.15 million during the quarter, compared to analysts' expectations of $736.09 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Werner Enterprises will post 1.27 EPS for the current fiscal year.

Werner Enterprises declared that its board has authorized a share repurchase program on Monday, August 11th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Werner Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Monday, October 6th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. Werner Enterprises's dividend payout ratio is 65.12%.

Hedge Funds Weigh In On Werner Enterprises

A number of large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Werner Enterprises by 57.8% during 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. SummerHaven Investment Management LLC lifted its holdings in Werner Enterprises by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 22,516 shares of the transportation company's stock worth $660,000 after buying an additional 398 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Werner Enterprises by 0.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,854 shares of the transportation company's stock worth $3,717,000 after acquiring an additional 401 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Werner Enterprises by 15.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company's stock worth $86,000 after acquiring an additional 402 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT raised its position in shares of Werner Enterprises by 3.0% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 14,528 shares of the transportation company's stock worth $426,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company's stock.

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.