Wells Fargo Lowers Price Target for Werner Enterprises

On November 1, 2024, analysts at Wells Fargo & Company announced a reduction in the price target for Werner Enterprises (NASDAQ:WERN) from $38.00 to $35.00, according to Benzinga. This new target reflects an "underweight" rating for the shares of the transportation firm, indicating a possible decline of 5.12% based on the stock's previous closing price.

Recent evaluations by other analysts have also been unfavorable for Werner Enterprises. Citigroup introduced coverage of the company on October 9, 2024, assigning a "sell" rating with a target price of $34.00. Stifel Nicolaus downgraded their price target from $39.00 to $33.00 and maintained a "hold" rating in an earlier report released on August 1, 2024. Evercore ISI further decreased the target from $35.00 to $32.00, indicating an "in-line" rating for the company. In another report on September 26, 2024, Susquehanna raised their target from $26.00 to $30.00 but still rated it as "negative." StockNews.com also changed their outlook, downgrading the stock from a "hold" rating to a "sell" on July 16, 2024. Currently, seven research analysts have rated Werner Enterprises as a "sell," five have categorized it as a "hold," and three analysts have provided a "buy" rating. Based on MarketBeat data, the overall consensus for the stock is a "Hold" with an average target price of $36.50.

Stock Performance Overview

On the trading day following the price target announcement, shares of Werner Enterprises opened at $36.89. The company has a 50-day simple moving average of $37.10 and a two-hundred day simple moving average of $36.75. In terms of yearly performance, the stock has seen a low of $33.12 and a high of $43.26 over the past 12 months. With a market capitalization of $2.28 billion, Werner Enterprises also reports a price-to-earnings (P/E) ratio of 50.53 and a price/earnings-to-growth (PEG) ratio of 11.70, alongside a beta of 0.79. Financial indicators include a debt-to-equity ratio of 0.45 and current and quick ratios of 1.69 and 1.64, respectively.

Recent Earnings Report

Werner Enterprises revealed its latest earnings on October 29, 2024. The firm reported earnings per share (EPS) of $0.15 for the quarter, which fell short of the analysts’ expectations of $0.22 by $0.07. The company’s net profit margin stood at 1.99%, while its return on equity was reported at 4.70%. The total revenue reached $745.70 million, compared to projections of $765.24 million. Year-over-year, revenue decreased by 8.8%, and analysts are forecasting an EPS of 0.87 for the current fiscal year.

Institutional Investors in Werner Enterprises

Recent activities among institutional investors indicate changes in their stakes in Werner Enterprises. Notably, US Bancorp DE increased its holdings by 271.1% in Q3, acquiring an additional 3,489 shares for a total of 4,776 shares valued at $184,000. Congress Asset Management Co. raised its stake by 10.1%, now owning 369,658 shares worth approximately $14.27 million. Diversify Wealth Management LLC also reported a 13.9% increase, owning 7,434 shares valued at $279,000 after adding 906 shares. Additionally, Pinnacle Associates Ltd. raised its holdings by 2.0%, having acquired 9,143 shares to total 460,453 shares valued at $19.51 million. Finally, abrdn plc increased its position by 26.9%, with 497,430 shares currently holding a value of about $19.20 million. Altogether, institutional stakeholders hold 89.32% of the company's outstanding shares.

About Werner Enterprises

Werner Enterprises, Inc. operates in the transportation sector, focusing on truckload shipments of general goods across the United States, Mexico, and internationally through its two divisions: Truckload Transportation Services and Werner Logistics.

WellsFargo, Werner, Stock