Bank of America Cuts Werner Enterprises (NASDAQ:WERN) Price Target to $26.00

Werner Enterprises (NASDAQ:WERN) had its target price cut by analysts at Bank of America from $27.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential downside of 9.41% from the stock’s current price.

WERN has been the subject of a number of other reports. Susquehanna lifted their price objective on Werner Enterprises from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Werner Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Baird R W upgraded shares of Werner Enterprises to a “strong sell” rating in a research report on Tuesday, July 1st. Wells Fargo & Company increased their price target on shares of Werner Enterprises from $24.00 to $25.00 and gave the company an “underweight” rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird began coverage on shares of Werner Enterprises in a research report on Tuesday, July 1st. They issued an “underperform” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $30.43.

Werner Enterprises Stock Performance

Werner Enterprises stock opened at $28.70 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 0.51. Werner Enterprises has a 1 year low of $23.02 and a 1 year high of $42.48. The company has a market cap of $1.72 billion, a PE ratio of 33.37, a PEG ratio of 1.50 and a beta of 1.09. The company’s 50-day moving average is $28.28 and its two-hundred day moving average is $28.28.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Werner Enterprises had a return on equity of 0.92% and a net margin of 1.77%.The business had revenue of $753.15 million during the quarter, compared to analysts’ expectations of $736.09 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts anticipate that Werner Enterprises will post 1.27 earnings per share for the current year.

Werner Enterprises announced that its Board of Directors has approved a stock repurchase program on Monday, August 11th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Werner Enterprises

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its position in shares of Werner Enterprises by 59.5% during the second quarter. Squarepoint Ops LLC now owns 179,372 shares of the transportation company’s stock worth $4,908,000 after buying an additional 66,927 shares during the period. State of Wyoming boosted its position in shares of Werner Enterprises by 31.8% during the second quarter. State of Wyoming now owns 12,758 shares of the transportation company’s stock worth $349,000 after buying an additional 3,079 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Werner Enterprises by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 210,659 shares of the transportation company’s stock valued at $5,764,000 after purchasing an additional 14,478 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Werner Enterprises in the second quarter valued at approximately $240,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Werner Enterprises by 0.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 64,228 shares of the transportation company’s stock valued at $1,758,000 after purchasing an additional 503 shares during the last quarter. 89.32% of the stock is currently owned by institutional investors and hedge funds.

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.