Werner Enterprises (NASDAQ:WERN) Given New $35.00 Price Target at Wells Fargo & Company

Werner Enterprises (NASDAQ:WERN) had its price objective lowered by Wells Fargo & Company from $38.00 to $35.00 in a report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI reduced their price target on shares of Werner Enterprises from $35.00 to $32.00 and set an “in-line” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Werner Enterprises from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Stifel Nicolaus cut their target price on shares of Werner Enterprises from $39.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Werner Enterprises from $32.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Finally, TD Cowen increased their target price on shares of Werner Enterprises from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.50.

Werner Enterprises Stock Down 2.6 %

WERN stock opened at $37.30 on Wednesday. Werner Enterprises has a 12 month low of $33.12 and a 12 month high of $43.26. The firm has a market cap of $2.31 billion, a PE ratio of 37.68, a P/E/G ratio of 11.70 and a beta of 0.79. The firm has a 50 day simple moving average of $37.10 and a 200 day simple moving average of $36.75. 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 released its earnings results on Tuesday, October 29th. The transportation company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.07). Werner Enterprises had a net margin of 1.99% and a return on equity of 4.70%. The business had revenue of $745.70 million for the quarter, compared to analyst estimates of $765.24 million. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts forecast that Werner Enterprises will post 0.87 earnings per share for the current fiscal year.

Werner Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.50%. Werner Enterprises’s payout ratio is presently 56.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its stake in Werner Enterprises by 271.1% in the 3rd quarter. US Bancorp DE now owns 4,776 shares of the transportation company’s stock valued at $184,000 after buying an additional 3,489 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Werner Enterprises by 10.1% in the 3rd quarter. Congress Asset Management Co. now owns 369,658 shares of the transportation company’s stock valued at $14,265,000 after purchasing an additional 33,891 shares during the period. Diversify Wealth Management LLC boosted its holdings in Werner Enterprises by 13.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 7,434 shares of the transportation company’s stock valued at $279,000 after purchasing an additional 906 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Werner Enterprises by 2.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 460,453 shares of the transportation company’s stock valued at $19,509,000 after purchasing an additional 9,143 shares during the period. Finally, abrdn plc boosted its holdings in Werner Enterprises by 26.9% in the 3rd quarter. abrdn plc now owns 497,430 shares of the transportation company’s stock valued at $19,196,000 after purchasing an additional 105,488 shares during the period. 89.32% of the stock is currently owned by institutional investors and hedge funds.

About Werner Enterprises

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.