Wells Fargo & Company Issues Pessimistic Forecast for Werner Enterprises (NASDAQ:WERN) Stock Price

Werner Enterprises (NASDAQ:WERN) had its price objective cut by equities researchers at Wells Fargo & Company from $27.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 3.61% from the company’s previous close.

A number of other equities research analysts have also weighed in on WERN. Barclays dropped their price target on Werner Enterprises from $38.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Werner Enterprises in a research note on Friday, March 7th. They set a “hold” rating and a $33.00 price target on the stock. TD Cowen lowered their price objective on shares of Werner Enterprises from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI downgraded Werner Enterprises from an “in-line” rating to an “underperform” rating and cut their target price for the company from $27.00 to $21.00 in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price target on Werner Enterprises from $36.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.92.

Werner Enterprises Trading Up 1.0 %

NASDAQ:WERN opened at $24.90 on Wednesday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 45.27 and a beta of 1.06. Werner Enterprises has a 52 week low of $23.02 and a 52 week high of $42.48. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $29.31 and a 200 day moving average of $34.60.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its position in Werner Enterprises by 12.8% in the 3rd quarter. Barclays PLC now owns 435,447 shares of the transportation company’s stock worth $16,804,000 after purchasing an additional 49,568 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Werner Enterprises in the 3rd quarter valued at $96,000. Cim Investment Management Inc. purchased a new stake in Werner Enterprises during the third quarter worth $203,000. Tidal Investments LLC grew its position in Werner Enterprises by 21.4% during the third quarter. Tidal Investments LLC now owns 13,856 shares of the transportation company’s stock valued at $535,000 after buying an additional 2,445 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Werner Enterprises by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 85,815 shares of the transportation company’s stock worth $3,312,000 after acquiring an additional 559 shares during the period. 89.32% of the stock is currently 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.