Werner Enterprises (NASDAQ:WERN) Given New $34.00 Price Target at JPMorgan Chase & Co.

Werner Enterprises (NASDAQ:WERN) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $37.00 to $34.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.83% from the stock’s current price.

Several other brokerages have also commented on WERN. Citigroup assumed coverage on shares of Werner Enterprises in a research note on Wednesday, October 9th. They set a “sell” rating and a $34.00 price target on the stock. UBS Group lowered shares of Werner Enterprises from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research note on Tuesday, July 9th. Morgan Stanley lowered their target price on shares of Werner Enterprises from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, July 8th. Stephens lowered their target price on shares of Werner Enterprises from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, StockNews.com lowered shares of Werner Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Werner Enterprises presently has a consensus rating of “Hold” and a consensus target price of $36.50.

Werner Enterprises Stock Performance

Shares of WERN opened at $36.89 on Wednesday. The company’s fifty day moving average is $37.10 and its 200-day moving average is $36.75. Werner Enterprises has a 12 month low of $33.12 and a 12 month high of $43.26. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 11.70 and a beta of 0.79. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.45.

Werner Enterprises (NASDAQ:WERN) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.07). Werner Enterprises had a return on equity of 4.70% and a net margin of 1.99%. The business had revenue of $745.70 million for the quarter, compared to analyst estimates of $765.24 million. During the same quarter last year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities analysts expect that Werner Enterprises will post 0.87 EPS for the current fiscal year.

Institutional Trading of Werner Enterprises

A number of hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in Werner Enterprises by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 16,879 shares of the transportation company’s stock valued at $605,000 after purchasing an additional 328 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Werner Enterprises by 2.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,221 shares of the transportation company’s stock worth $617,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Werner Enterprises by 145.7% during the 3rd quarter. GAMMA Investing LLC now owns 801 shares of the transportation company’s stock worth $31,000 after acquiring an additional 475 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Werner Enterprises by 390.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 740 shares of the transportation company’s stock worth $27,000 after acquiring an additional 589 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Werner Enterprises by 7.2% during the 2nd quarter. Inspire Investing LLC now owns 9,820 shares of the transportation company’s stock worth $352,000 after acquiring an additional 656 shares during the period. 89.32% of the stock is owned by institutional investors.

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.