Werner Enterprises, Inc. (NASDAQ:WERN) Price Target Raised to $31.00
Werner Enterprises, Inc. (NASDAQ:WERN) had its price objective increased by Cowen and Company from $27.00 to $31.00 in a research note published on Tuesday, July 25th, Marketbeat.com reports. Cowen and Company currently has a market perform rating on the transportation company’s stock.
A number of other brokerages have also weighed in on WERN. Zacks Investment Research raised Werner Enterprises from a sell rating to a hold rating in a report on Tuesday, April 25th. TheStreet raised Werner Enterprises from a c+ rating to a b rating in a report on Monday, June 19th. Bank of America Corporation raised Werner Enterprises from an underperform rating to a neutral rating and upped their target price for the company from $30.00 to $32.00 in a report on Tuesday, July 25th. BidaskClub raised Werner Enterprises from a buy rating to a strong-buy rating in a report on Friday, June 30th. Finally, UBS AG raised Werner Enterprises from a sell rating to a neutral rating and upped their target price for the company from $26.00 to $30.00 in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $30.36.
Shares of Werner Enterprises (NASDAQ WERN) traded up 0.33% during midday trading on Tuesday, hitting $30.80. 540,344 shares of the stock were exchanged. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 28.00 and a beta of 0.88. Werner Enterprises has a one year low of $21.45 and a one year high of $32.45. The firm has a 50 day moving average of $29.88 and a 200-day moving average of $27.91.
Werner Enterprises (NASDAQ:WERN) last released its quarterly earnings results on Monday, July 24th. The transportation company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.05. Werner Enterprises had a return on equity of 7.97% and a net margin of 3.90%. The business had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $521.63 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Werner Enterprises will post $1.23 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Monday, October 2nd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.28 annualized dividend and a yield of 0.91%. Werner Enterprises’s dividend payout ratio (DPR) is presently 25.45%.
In other news, VP Jim S. Schelble sold 7,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $30.17, for a total value of $226,275.00. Following the transaction, the vice president now directly owns 55,306 shares in the company, valued at approximately $1,668,582.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Derek J. Leathers sold 12,244 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.02, for a total value of $367,564.88. Following the completion of the transaction, the chief executive officer now owns 228,780 shares in the company, valued at $6,867,975.60. The disclosure for this sale can be found here. Insiders have sold 39,994 shares of company stock worth $1,197,593 over the last quarter. 34.80% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in Werner Enterprises by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,243 shares of the transportation company’s stock worth $399,000 after buying an additional 200 shares during the period. Alliancebernstein L.P. increased its position in Werner Enterprises by 3.1% in the first quarter. Alliancebernstein L.P. now owns 2,180,691 shares of the transportation company’s stock worth $57,134,000 after buying an additional 66,406 shares during the period. Louisiana State Employees Retirement System increased its position in Werner Enterprises by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the transportation company’s stock worth $296,000 after buying an additional 300 shares during the period. Geode Capital Management LLC increased its position in Werner Enterprises by 4.6% in the first quarter. Geode Capital Management LLC now owns 368,735 shares of the transportation company’s stock worth $9,660,000 after buying an additional 16,281 shares during the period. Finally, Vanguard Group Inc. increased its position in Werner Enterprises by 7.1% in the first quarter. Vanguard Group Inc. now owns 3,644,333 shares of the transportation company’s stock worth $95,481,000 after buying an additional 242,284 shares during the period. Institutional investors own 64.34% of the company’s stock.
About Werner Enterprises
Werner Enterprises, Inc is a transportation and logistics company. The Company is engaged in transporting truckload shipments of general commodities in both interstate and intrastate commerce. It operates through two segments: Truckload and Werner Logistics. It provides logistics services through its Werner Logistics division.
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