Wells Fargo Cuts Price Target for Werner Enterprises

On November 1, 2024, analysts from Wells Fargo & Company announced a reduction in the price target for Werner Enterprises (NASDAQ:WERN) from $38.00 to $35.00. This adjustment was made in their latest report and indicates an "underweight" rating on the stock of the transportation company. The new target price implies a potential downside of 5.12% compared to the stock's previous closing price.

In addition to Wells Fargo's revision, other equity analysts have also shared their perspectives on Werner Enterprises recently. For instance, Citigroup began coverage of Werner Enterprises on October 9, 2024, assigning a "sell" rating along with a $34.00 target price. Similarly, Stifel Nicolaus lowered its price target from $39.00 to $33.00 while maintaining a "hold" rating in a report dated August 1. Furthermore, Evercore ISI decreased their target from $35.00 to $32.00 and categorized the stock as "in-line". On September 26, Susquehanna raised its target price from $26.00 to $30.00 but issued a "negative" rating. StockNews.com also downgraded Werner Enterprises from a "hold" rating to a "sell" on July 16. Overall, seven research analysts have issued sell ratings, five have given hold ratings, and three have rated it as a buy, resulting in a consensus rating of "Hold" with a target price of $36.50 according to MarketBeat.

Price and Performance of Werner Enterprises

On the same day of the report, Werner Enterprises shares opened at $36.89. The company had a 50-day simple moving average of $37.10 and a 200-day simple moving average of $36.75. The stock has seen a 12-month low of $33.12 and a peak of $43.26. With a market capitalization of $2.28 billion, Werner Enterprises has a price-to-earnings (P/E) ratio of 50.53 and a price-to-earnings growth (PEG) ratio of 11.70. Additionally, the company maintains a debt-to-equity ratio of 0.45, a current ratio of 1.69, and a quick ratio of 1.64.

Recently, Werner Enterprises reported its earnings results for the quarter on October 29, 2024. They announced earnings per share (EPS) of $0.15, which fell short of analysts' expectations of $0.22 by $0.07. The company experienced a net margin of 1.99% and a return on equity of 4.70%. Their revenue stood at $745.70 million, falling below analysts' predictions of $765.24 million. Comparatively, during the same quarter last year, Werner Enterprises recorded an EPS of $0.42, so the recent revenue reflects an 8.8% decline compared to the previous year. Analysts forecast that Werner Enterprises will achieve an EPS of 0.87 for the current fiscal year.

Institutional Investors Involvement

Several institutional investors have recently adjusted their holdings in Werner Enterprises. For instance, US Bancorp DE has increased its stake in the company by 271.1% in the third quarter, now owning 4,776 shares valued at approximately $184,000 after acquiring an additional 3,489 shares. Congress Asset Management Co. raised its holdings by 10.1%, now owning 369,658 shares worth $14.265 million after buying 33,891 shares. Diversify Wealth Management LLC increased its stake by 13.9%, while Pinnacle Associates Ltd. raised its position by 2.0%. Lastly, abrdn plc enhanced its stake in Werner Enterprises by 26.9%. Currently, institutional investors and hedge funds hold about 89.32% of the company's stock.

Company Overview

Werner Enterprises, Inc, along with its subsidiaries, specializes in the transportation of truckload shipments of general commodities across interstate and intrastate routes within the United States and internationally, including Mexico. The organization operates through two main segments: Truckload Transportation Services and Werner Logistics.

Wells Fargo, Werner, Stock