Wells Fargo & Company Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $37.00

Werner Enterprises (NASDAQ:WERN) had its target price trimmed by Wells Fargo & Company from $46.00 to $37.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

Several other research analysts have also recently commented on the stock. Zacks Research cut shares of Werner Enterprises from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Stifel Nicolaus boosted their price target on Werner Enterprises from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, July 13th. Citigroup increased their price target on Werner Enterprises from $37.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley raised their price objective on Werner Enterprises from $47.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, TD Cowen dropped their price objective on Werner Enterprises from $43.00 to $41.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Werner Enterprises currently has a consensus rating of “Hold” and a consensus target price of $39.77.

Werner Enterprises Trading Up 2.0%

Shares of Werner Enterprises stock opened at $33.00 on Tuesday. The firm has a 50-day moving average of $36.83 and a 200-day moving average of $37.81. The stock has a market cap of $1.98 billion, a PE ratio of -43.42 and a beta of 1.29. Werner Enterprises has a 52-week low of $23.06 and a 52-week high of $47.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.42 and a current ratio of 1.45.

Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Werner Enterprises had a positive return on equity of 1.18% and a negative net margin of 1.42%.The business had revenue of $813.36 million for the quarter, compared to the consensus estimate of $931.12 million. During the same period in the prior year, the business posted $0.11 earnings per share. Werner Enterprises’s revenue was up 24.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Werner Enterprises will post 1.09 EPS for the current year.

Werner Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Monday, October 5th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, October 5th. Werner Enterprises’s payout ratio is currently -73.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in shares of Werner Enterprises by 56.4% during the 2nd quarter. Allworth Financial LP now owns 860 shares of the transportation company’s stock worth $38,000 after acquiring an additional 310 shares during the period. GAMMA Investing LLC lifted its position in Werner Enterprises by 21.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,812 shares of the transportation company’s stock valued at $166,000 after acquiring an additional 675 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Werner Enterprises by 185.4% during the third quarter. Farther Finance Advisors LLC now owns 1,216 shares of the transportation company’s stock valued at $41,000 after buying an additional 790 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Werner Enterprises by 40.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,266 shares of the transportation company’s stock worth $96,000 after acquiring an additional 942 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in Werner Enterprises in the 2nd quarter worth approximately $45,000. Institutional investors own 89.32% of the company’s stock.

About Werner Enterprises

Werner Enterprises, Inc is a transportation and logistics company headquartered in Omaha, Nebraska. Founded in 1956 by C.L. Werner, the company provides freight transportation and supply chain services to customers across North America.

The company’s operations include truckload transportation, dedicated transportation, and logistics services. Its truckload business transports general commodities through one-way and dedicated fleets, while its logistics operations arrange transportation using a network of carriers and other service providers.