Citigroup Has Lowered Expectations for Werner Enterprises (NASDAQ:WERN) Stock Price

Key Points

• Citigroup has reduced its price target for Werner Enterprises from $30.00 to $29.00, maintaining a "neutral" rating for the stock, which indicates a potential upside of 10.52% based on the company's recent close.
• Other analysts have mixed views, with Bank of America lowering its target to $26.00 and others issuing ratings from "strong sell" to "hold," leading to an average rating of "Reduce" for the stock.
• Werner Enterprises recently reported earnings of $0.11 per share, surpassing estimates, but experienced a 1.0% decline in revenue year-over-year, highlighting some ongoing financial challenges.

Werner Enterprises (NASDAQ:WERN - Get Free Report) had its price objective decreased by investment analysts at Citigroup from $30.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. Citigroup's target price points to a potential upside of 10.52% from the company's previous close.

Several other research firms also recently weighed in on WERN. Wall Street Zen raised Werner Enterprises from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Bank of America lowered their price objective on Werner Enterprises from $27.00 to $26.00 and set an "underperform" rating for the company in a research report on Wednesday, September 10th. Baird R W raised Werner Enterprises to a "strong sell" rating in a research report on Tuesday, July 1st. Wells Fargo & Company lowered their price objective on Werner Enterprises from $25.00 to $22.00 and set an "underweight" rating for the company in a research report on Monday, October 6th. Finally, Evercore ISI lowered their price objective on Werner Enterprises from $25.00 to $23.00 and set an "underperform" rating for the company in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and seven have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $27.57.

Werner Enterprises Price Performance

NASDAQ WERN traded down $0.29 during mid-day trading on Monday, hitting $26.24. The stock had a trading volume of 776,231 shares, compared to its average volume of 890,996. Werner Enterprises has a 52-week low of $23.02 and a 52-week high of $42.48. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 1.57 and a beta of 1.06. The company has a 50 day simple moving average of $27.78 and a 200 day simple moving average of $27.72. 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 (NASDAQ:WERN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $753.15 million during the quarter, compared to the consensus estimate of $736.09 million. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.Werner Enterprises's revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. Equities analysts forecast that Werner Enterprises will post 1.27 EPS for the current fiscal year.

Werner Enterprises declared that its Board of Directors has authorized a share buyback plan on Monday, August 11th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in Werner Enterprises by 57.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,018 shares of the transportation company's stock valued at $28,000 after buying an additional 373 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Werner Enterprises by 0.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,854 shares of the transportation company's stock valued at $3,717,000 after buying an additional 401 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Werner Enterprises by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,937 shares of the transportation company's stock valued at $86,000 after buying an additional 402 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in Werner Enterprises by 3.0% in the first quarter. Alliance Wealth Advisors LLC UT now owns 14,528 shares of the transportation company's stock valued at $426,000 after buying an additional 421 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in Werner Enterprises by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 23,008 shares of the transportation company's stock valued at $629,000 after buying an additional 492 shares during 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.

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