Wells Fargo & Company Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $35.00

Werner Enterprises (NASDAQ:WERN) had its price target decreased by analysts at Wells Fargo & Company from $38.00 to $35.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 5.12% from the stock’s previous close.

A number of other equities analysts have also recently commented on WERN. Citigroup started coverage on Werner Enterprises in a report on Wednesday, October 9th. They set a “sell” rating and a $34.00 target price for the company. Stifel Nicolaus cut their price target on Werner Enterprises from $39.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Evercore ISI cut their price target on Werner Enterprises from $35.00 to $32.00 and set an “in-line” rating for the company in a report on Wednesday. Susquehanna increased their price target on Werner Enterprises from $26.00 to $30.00 and gave the company a “negative” rating in a report on Thursday, September 26th. Finally, StockNews.com cut Werner Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Werner Enterprises currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Werner Enterprises Price Performance

Shares of Werner Enterprises stock opened at $36.89 on Wednesday. The business has a 50 day simple moving average of $37.10 and a two-hundred day simple moving average of $36.75. Werner Enterprises has a 12 month low of $33.12 and a 12 month high of $43.26. The stock has a market capitalization of $2.28 billion, a P/E ratio of 50.53, a PEG ratio of 11.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.64.

Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Tuesday, October 29th. The transportation company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Werner Enterprises had a net margin of 1.99% and a return on equity of 4.70%. The firm had revenue of $745.70 million for the quarter, compared to analyst estimates of $765.24 million. During the same period in the previous year, the company earned $0.42 EPS. Werner Enterprises’s revenue was down 8.8% compared to the same quarter last year. As a group, analysts predict that Werner Enterprises will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Werner Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of Werner Enterprises by 271.1% during the third quarter. US Bancorp DE now owns 4,776 shares of the transportation company’s stock worth $184,000 after buying an additional 3,489 shares during the period. Congress Asset Management Co. boosted its position in shares of Werner Enterprises by 10.1% during the third quarter. Congress Asset Management Co. now owns 369,658 shares of the transportation company’s stock worth $14,265,000 after buying an additional 33,891 shares during the period. Diversify Wealth Management LLC boosted its position in shares of Werner Enterprises by 13.9% during the third quarter. Diversify Wealth Management LLC now owns 7,434 shares of the transportation company’s stock worth $279,000 after buying an additional 906 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Werner Enterprises by 2.0% during the third quarter. Pinnacle Associates Ltd. now owns 460,453 shares of the transportation company’s stock worth $19,509,000 after buying an additional 9,143 shares during the period. Finally, abrdn plc boosted its position in shares of Werner Enterprises by 26.9% during the third quarter. abrdn plc now owns 497,430 shares of the transportation company’s stock worth $19,196,000 after buying an additional 105,488 shares during the period. 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.