Bank of America Issues Positive Forecast for Werner Enterprises (NASDAQ:WERN) Stock Price

Werner Enterprises (NASDAQ:WERN - Get Free Report) had its price objective upped by equities research analysts at Bank of America from $26.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the transportation company's stock. Bank of America's price target points to a potential downside of 2.17% from the stock's previous close.

A number of other brokerages have also issued reports on WERN. Wall Street Zen lowered shares of Werner Enterprises from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. The Goldman Sachs Group upgraded Werner Enterprises from a "sell" rating to a "buy" rating and increased their price objective for the stock from $25.00 to $39.00 in a research report on Monday, June 2nd. UBS Group decreased their price objective on Werner Enterprises from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Evercore ISI lowered Werner Enterprises from an "in-line" rating to an "underperform" rating and decreased their price objective for the company from $27.00 to $21.00 in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Werner Enterprises in a research note on Friday, March 7th. They issued a "hold" rating and a $33.00 price target on the stock. Five analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Werner Enterprises presently has a consensus rating of "Hold" and a consensus target price of $30.50.

Werner Enterprises Stock Performance

Shares of NASDAQ WERN traded down $0.19 during midday trading on Friday, reaching $27.60. 1,218,971 shares of the stock were exchanged, compared to its average volume of 840,878. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 50.18 and a beta of 1.06. Werner Enterprises has a twelve month low of $23.02 and a twelve month high of $42.48. The firm has a 50-day simple moving average of $27.18 and a two-hundred day simple moving average of $32.03. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.43.

Werner Enterprises (NASDAQ:WERN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The transportation company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.24). The firm had revenue of $712.11 million during the quarter, compared to analysts' expectations of $738.41 million. Werner Enterprises had a net margin of 1.13% and a return on equity of 2.27%. The company's revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, analysts anticipate that Werner Enterprises will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Werner Enterprises by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,813,038 shares of the transportation company's stock valued at $199,622,000 after purchasing an additional 82,581 shares during the period. Victory Capital Management Inc. raised its stake in shares of Werner Enterprises by 5.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,641,546 shares of the transportation company's stock worth $106,697,000 after buying an additional 173,572 shares in the last quarter. American Century Companies Inc. raised its position in shares of Werner Enterprises by 9.2% during the first quarter. American Century Companies Inc. now owns 2,170,527 shares of the transportation company's stock worth $63,596,000 after purchasing an additional 183,340 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Werner Enterprises by 0.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,121,696 shares of the transportation company's stock worth $76,211,000 after purchasing an additional 19,370 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Werner Enterprises by 10.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,835,187 shares of the transportation company's stock valued at $53,844,000 after buying an additional 174,341 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.