Werner Enterprises (NASDAQ:WERN) Downgraded to Sell (D+) Rating by Weiss Ratings

Key Points

• Werner Enterprises has been downgraded by Weiss Ratings from a "hold (c-)" to a "sell (d+)" rating, indicating a negative outlook for the company.
• Despite the downgrade, Citigroup raised its price target for the stock from $29.00 to $31.00, while other analysts lowered their price objectives, suggesting mixed sentiments among analysts.
• The company recently reported quarterly earnings that topped expectations, with a revenue of $753.15 million, yet its revenue was down 1.0% compared to the same quarter last year.

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

Other equities research analysts have also issued reports about the company. Citigroup boosted their price objective on Werner Enterprises from $29.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Robert W. Baird initiated coverage on Werner Enterprises in a research note on Tuesday, July 1st. They set an "underperform" rating and a $25.00 price objective for the company. Susquehanna cut their price objective on Werner Enterprises from $27.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, September 24th. Wells Fargo & Company cut their price objective on Werner Enterprises from $25.00 to $22.00 and set an "underweight" rating for the company in a research note on Monday. Finally, Stifel Nicolaus cut their price objective on Werner Enterprises from $25.00 to $23.00 and set a "hold" rating for the company in a research note on Friday, October 3rd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $27.71.

Werner Enterprises Price Performance

NASDAQ WERN traded up $1.12 during trading hours on Wednesday, reaching $28.88. The company's stock had a trading volume of 1,460,061 shares, compared to its average volume of 884,506. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 1.60 and a beta of 1.06. Werner Enterprises has a 1-year low of $23.02 and a 1-year high of $42.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.67 and a quick ratio of 1.63. The company's 50-day moving average is $27.75 and its two-hundred day moving average is $27.78.

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 analysts' consensus estimates of $0.05 by $0.06. The company had revenue of $753.15 million during the quarter, compared to analysts' expectations of $736.09 million. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.Werner Enterprises's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, equities analysts predict that Werner Enterprises will post 1.27 EPS for the current year.

Werner Enterprises declared that its board has approved a share repurchase program on Monday, August 11th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Werner Enterprises

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of Werner Enterprises by 2.7% in the first quarter. Principal Financial Group Inc. now owns 308,067 shares of the transportation company's stock valued at $9,026,000 after acquiring an additional 8,080 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Werner Enterprises by 164.3% in the first quarter. SG Americas Securities LLC now owns 11,066 shares of the transportation company's stock valued at $324,000 after acquiring an additional 6,879 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 acquiring an additional 402 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Werner Enterprises in the first quarter valued at $686,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Werner Enterprises in the first quarter valued at $265,000. 89.32% of the stock is currently owned by institutional investors and hedge funds.

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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