Bank of America Upgrades Werner Enterprises (NASDAQ:WERN) to Buy

Werner Enterprises (NASDAQ:WERN) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat reports.

Several other brokerages have also weighed in on WERN. UBS Group set a $41.00 price objective on shares of Werner Enterprises and gave the company a “hold” rating in a report on Friday, October 25th. Wolfe Research upgraded shares of Werner Enterprises from an “underperform” rating to a “peer perform” rating in a report on Friday, October 4th. Morgan Stanley cut their target price on shares of Werner Enterprises from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Stifel Nicolaus lowered shares of Werner Enterprises from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a report on Wednesday, October 30th. Finally, Goldman Sachs Group assumed coverage on shares of Werner Enterprises in a report on Thursday, December 5th. They issued a “buy” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.58.

NASDAQ WERN traded up $0.34 during trading hours on Tuesday, hitting $39.07. The company’s stock had a trading volume of 12,493 shares, compared to its average volume of 353,384. The stock has a fifty day moving average of $36.53 and a 200 day moving average of $34.65. Werner Enterprises has a twelve month low of $27.27 and a twelve month high of $39.21. The firm has a market capitalization of $2.64 billion, a P/E ratio of 16.39, a PEG ratio of 3.40 and a beta of 1.19. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.26.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Werner Enterprises had a net margin of 6.95% and a return on equity of 15.02%. The business had revenue of $618.26 million during the quarter, compared to analyst estimates of $624.42 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict that Werner Enterprises will post 2.34 earnings per share for the current year.

Several hedge funds have recently modified their holdings of WERN. First Trust Advisors LP grew its holdings in shares of Werner Enterprises by 2.5% during the 1st quarter. First Trust Advisors LP now owns 170,866 shares of the transportation company’s stock valued at $5,835,000 after purchasing an additional 4,132 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Werner Enterprises by 10.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 43,281 shares of the transportation company’s stock worth $1,335,000 after buying an additional 3,949 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Werner Enterprises by 6.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 43,475 shares of the transportation company’s stock worth $1,351,000 after buying an additional 2,457 shares in the last quarter. Bank of Montreal Can grew its position in shares of Werner Enterprises by 78.6% during the 2nd quarter. Bank of Montreal Can now owns 6,487 shares of the transportation company’s stock worth $203,000 after buying an additional 2,855 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Werner Enterprises by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 480,289 shares of the transportation company’s stock worth $14,928,000 after buying an additional 2,299 shares in the last quarter. 65.19% of the stock is owned by institutional investors.

About Werner Enterprises

Werner Enterprises, Inc, a transportation and logistics company, engages in transporting truckload shipments of general commodities in interstate and intrastate commerce in the United States, Mexico, Canada, and China. It operates in two segments, Truckload Transportation Services and Werner Logistics.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Werner Enterprises (NASDAQ:WERN)

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