Stifel Nicolaus Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $23.00

Key Points

• Stifel Nicolaus has reduced its price target for Werner Enterprises from $25.00 to $23.00, indicating a potential downside of 17.65% from the company's current stock price.
• Other analysts have mixed views on the stock, with Bank of America downgrading its target to $26.00 and Citigroup raising it to $31.00, leading to a consensus rating of "Reduce" with an average price target of $29.93.
• Werner Enterprises has initiated a share repurchase program allowing the company to buy back 5 million shares, often viewed as a sign that management believes the stock is undervalued.

Werner Enterprises (NASDAQ:WERN - Get Free Report) had its price objective reduced by analysts at Stifel Nicolaus from $25.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the transportation company's stock. Stifel Nicolaus' price target suggests a potential downside of 17.65% from the company's current price.

A number of other research analysts have also recently commented on the stock. Bank of America cut their price target on shares of Werner Enterprises from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Wednesday, September 10th. Citigroup increased their target price on shares of Werner Enterprises from $29.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Werner Enterprises from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Baird R W upgraded shares of Werner Enterprises to a "strong sell" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird assumed coverage on shares of Werner Enterprises in a report on Tuesday, July 1st. They set an "underperform" rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, Werner Enterprises presently has a consensus rating of "Reduce" and an average price target of $29.93.

Werner Enterprises Trading Up 5.4%

Shares of NASDAQ WERN traded up $1.44 during mid-day trading on Friday, reaching $27.93. The company had a trading volume of 798,361 shares, compared to its average volume of 872,886. The business's 50-day moving average is $27.79 and its 200-day moving average is $27.82. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06. Werner Enterprises has a 52 week low of $23.02 and a 52 week high of $42.48.

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

Werner Enterprises declared that its board has initiated a share repurchase program on Monday, August 11th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Werner Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its stake in shares of Werner Enterprises by 25.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 40,096 shares of the transportation company's stock worth $1,097,000 after purchasing an additional 8,134 shares during the period. Squarepoint Ops LLC grew its stake in shares of Werner Enterprises by 59.5% during the 2nd quarter. Squarepoint Ops LLC now owns 179,372 shares of the transportation company's stock worth $4,908,000 after purchasing an additional 66,927 shares during the period. State of Wyoming grew its stake in shares of Werner Enterprises by 31.8% during the 2nd quarter. State of Wyoming now owns 12,758 shares of the transportation company's stock worth $349,000 after purchasing an additional 3,079 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Werner Enterprises by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 210,659 shares of the transportation company's stock worth $5,764,000 after purchasing an additional 14,478 shares during the period. Finally, FORA Capital LLC acquired a new stake in Werner Enterprises in the 2nd quarter valued at $240,000. 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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