Weiss Ratings Upgrades Werner Enterprises (NASDAQ:WERN) to Hold (C-)

Key Points

• Weiss Ratings has upgraded Werner Enterprises from a "sell (D+)" rating to a "hold (C-)" rating, indicating a more favorable view of the company.
• Despite the upgrade, other brokerages have assigned various ratings, with two analysts rating it as "buy," eight as "hold," and six as "sell," reflecting a mixed outlook.
• Werner Enterprises announced a stock repurchase program, allowing the company to buy back 5 million shares, a move typically perceived as a sign that the management believes the stock is undervalued.

Werner Enterprises (NASDAQ:WERN - Get Free Report) was upgraded by Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a report released on Friday,Weiss Ratings reports.

A number of other brokerages have also weighed in on WERN. Robert W. Baird began coverage on shares of Werner Enterprises in a research note on Tuesday, July 1st. They set an "underperform" rating and a $25.00 target price on the stock. Evercore ISI decreased their price objective on Werner Enterprises from $25.00 to $23.00 and set an "underperform" rating for the company in a report on Tuesday, September 30th. Wall Street Zen upgraded Werner Enterprises from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Bank of America decreased their price objective on Werner Enterprises from $27.00 to $26.00 and set an "underperform" rating for the company in a report on Wednesday, September 10th. Finally, Baird R W upgraded Werner Enterprises to a "strong sell" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $27.57.

Werner Enterprises Trading Up 1.2%

WERN stock traded up $0.32 during midday trading on Friday, hitting $27.68. The company had a trading volume of 881,090 shares, compared to its average volume of 928,157. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 0.51. Werner Enterprises has a 52 week low of $23.02 and a 52 week high of $42.48. The stock's 50 day moving average price is $27.81 and its 200 day moving average price is $27.66. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 1.68 and a beta of 1.06.

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

Werner Enterprises announced that its board has approved a stock repurchase plan 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. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Werner Enterprises

Several institutional investors have recently modified their holdings of WERN. Jacobs Levy Equity Management Inc. boosted its position in shares of Werner Enterprises by 1,642.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 620,855 shares of the transportation company's stock valued at $18,191,000 after buying an additional 585,218 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Werner Enterprises during the second quarter valued at $12,972,000. First Trust Advisors LP boosted its position in Werner Enterprises by 17.2% in the second quarter. First Trust Advisors LP now owns 2,893,705 shares of the transportation company's stock worth $79,172,000 after purchasing an additional 424,935 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in Werner Enterprises in the first quarter worth about $9,102,000. Finally, Russell Investments Group Ltd. boosted its position in Werner Enterprises by 49.1% in the second quarter. Russell Investments Group Ltd. now owns 704,775 shares of the transportation company's stock worth $19,283,000 after purchasing an additional 232,149 shares during the last quarter. 89.32% of the stock is owned by hedge funds and other institutional investors.

About Werner Enterprises

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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