JPMorgan Chase & Co. Has Lowered Expectations for Werner Enterprises (NASDAQ:WERN) Stock Price

Werner Enterprises (NASDAQ:WERN) had its price objective decreased by JPMorgan Chase & Co. from $37.00 to $34.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 9.14% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Werner Enterprises from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday. Citigroup began coverage on Werner Enterprises in a research report on Wednesday, October 9th. They issued a “sell” rating and a $34.00 price target for the company. Susquehanna lifted their price objective on Werner Enterprises from $26.00 to $30.00 and gave the stock a “negative” rating in a research report on Thursday, September 26th. Morgan Stanley dropped their price objective on Werner Enterprises from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, July 8th. Finally, The Goldman Sachs Group dropped their price objective on Werner Enterprises from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.79.

Werner Enterprises Stock Performance

Shares of NASDAQ WERN traded down $0.89 during mid-day trading on Wednesday, hitting $37.42. 774,319 shares of the company were exchanged, compared to its average volume of 747,762. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $37.11 and a 200-day simple moving average of $36.74. Werner Enterprises has a 1-year low of $33.12 and a 1-year high of $43.26. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 11.70 and a beta of 0.79.

Werner Enterprises (NASDAQ:WERN) last released its earnings results on Tuesday, October 29th. The transportation company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $765.24 million. During the same period last year, the business posted $0.42 EPS. Werner Enterprises’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Werner Enterprises will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Werner Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of WERN. US Bancorp DE lifted its position in Werner Enterprises by 271.1% during the 3rd quarter. US Bancorp DE now owns 4,776 shares of the transportation company’s stock worth $184,000 after acquiring an additional 3,489 shares in the last quarter. Congress Asset Management Co. lifted its position in Werner Enterprises by 10.1% during the 3rd quarter. Congress Asset Management Co. now owns 369,658 shares of the transportation company’s stock worth $14,265,000 after acquiring an additional 33,891 shares in the last quarter. Diversify Wealth Management LLC lifted its position in Werner Enterprises by 13.9% during the 3rd quarter. Diversify Wealth Management LLC now owns 7,434 shares of the transportation company’s stock worth $279,000 after acquiring an additional 906 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Werner Enterprises by 2.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 460,453 shares of the transportation company’s stock worth $19,509,000 after acquiring an additional 9,143 shares in the last quarter. Finally, abrdn plc lifted its position in Werner Enterprises by 26.9% during the 3rd quarter. abrdn plc now owns 497,430 shares of the transportation company’s stock worth $19,196,000 after acquiring an additional 105,488 shares in the last quarter. 89.32% of the stock is 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.