Werner Enterprises (NASDAQ:WERN) Given New $22.00 Price Target at Wells Fargo & Company

Werner Enterprises (NASDAQ:WERN) had its price objective cut by Wells Fargo & Company from $25.00 to $22.00 in a report released on Monday morning,Benzinga reports. They currently have an underweight rating on the transportation company’s stock.

A number of other research analysts have also recently weighed in on WERN. Stifel Nicolaus cut their price objective on shares of Werner Enterprises from $25.00 to $23.00 and set a “hold” rating for the company in a report on Friday. Wall Street Zen upgraded Werner Enterprises from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Baird R W raised Werner Enterprises to a “strong sell” rating in a report on Tuesday, July 1st. Citigroup raised their price objective on Werner Enterprises from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Finally, Robert W. Baird assumed coverage on Werner Enterprises in a research note on Tuesday, July 1st. They set an “underperform” rating and a $25.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $28.86.

Werner Enterprises Stock Up 3.9%

Werner Enterprises stock opened at $28.51 on Monday. The business’s 50-day moving average price is $27.75 and its 200 day moving average price is $27.78. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 1.48 and a beta of 1.06. Werner Enterprises has a 52 week low of $23.02 and a 52 week high of $42.48.

Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $753.15 million for the quarter, compared to analyst estimates of $736.09 million. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.The business’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. As a group, sell-side analysts anticipate that Werner Enterprises will post 1.27 earnings per share for the current year.

Werner Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Monday, October 6th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, October 6th. This represents a $0.56 dividend on an annualized basis and a yield of 2.0%. Werner Enterprises’s payout ratio is presently 65.12%.

Werner Enterprises announced that its board has initiated a share repurchase plan on Monday, August 11th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Werner Enterprises

A number of institutional investors have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Werner Enterprises during the 2nd quarter valued at approximately $27,000. Brooklyn Investment Group increased its stake in Werner Enterprises by 163.5% during the first quarter. Brooklyn Investment Group now owns 959 shares of the transportation company’s stock worth $28,000 after acquiring an additional 595 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Werner Enterprises by 57.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,018 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 373 shares during the period. Fifth Third Bancorp lifted its stake in shares of Werner Enterprises by 306.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,294 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 976 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Werner Enterprises by 413.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,191 shares of the transportation company’s stock worth $60,000 after purchasing an additional 1,764 shares during the period. 89.32% of the stock is owned by hedge funds and other institutional investors.

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.