J P Morgan Chase & Co Increases Werner Enterprises, Inc. (WERN) Price Target to $35.00
Werner Enterprises, Inc. (NASDAQ:WERN) had its price objective lifted by research analysts at J P Morgan Chase & Co from $26.00 to $35.00 in a report issued on Thursday. The brokerage currently has a “neutral” rating on the transportation company’s stock. J P Morgan Chase & Co’s price objective would indicate a potential downside of 1.82% from the stock’s previous close.
WERN has been the subject of a number of other reports. Buckingham Research initiated coverage on shares of Werner Enterprises in a report on Monday, August 21st. They issued a “buy” rating and a $36.00 price objective for the company. Deutsche Bank AG restated a “hold” rating and issued a $32.00 price objective (up from $25.00) on shares of Werner Enterprises in a report on Wednesday, August 9th. Cowen and Company boosted their price objective on shares of Werner Enterprises from $27.00 to $31.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. BidaskClub upgraded shares of Werner Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $32.00 price objective (up from $30.00) on shares of Werner Enterprises in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Werner Enterprises presently has a consensus rating of “Hold” and an average price target of $33.00.
Shares of Werner Enterprises (NASDAQ WERN) traded up 0.56% during trading on Thursday, reaching $35.85. 101,018 shares of the company traded hands. The firm’s 50-day moving average is $34.50 and its 200-day moving average is $29.73. Werner Enterprises has a 12-month low of $21.45 and a 12-month high of $37.00. The stock has a market capitalization of $2.59 billion, a PE ratio of 32.59 and a beta of 0.90.
Werner Enterprises (NASDAQ:WERN) last announced its earnings results on Monday, July 24th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Werner Enterprises had a net margin of 3.90% and a return on equity of 7.97%. The business had revenue of $519.50 million during the quarter, compared to analyst estimates of $521.63 million. During the same period in the previous year, the business posted $0.25 earnings per share. Werner Enterprises’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts predict that Werner Enterprises will post $1.24 earnings per share for the current fiscal year.
In other news, CEO Derek J. Leathers sold 12,756 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $30.00, for a total value of $382,680.00. Following the sale, the chief executive officer now directly owns 241,536 shares of the company’s stock, valued at approximately $7,246,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Derek J. Leathers sold 17,500 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $35.26, for a total transaction of $617,050.00. Following the completion of the sale, the chief executive officer now directly owns 211,280 shares in the company, valued at $7,449,732.80. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $1,593,570 over the last ninety days. Insiders own 34.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC grew its position in shares of Werner Enterprises by 17.2% in the 2nd quarter. LS Investment Advisors LLC now owns 3,636 shares of the transportation company’s stock worth $107,000 after buying an additional 533 shares during the period. Advantus Capital Management Inc grew its position in shares of Werner Enterprises by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 5,730 shares of the transportation company’s stock worth $150,000 after buying an additional 178 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Werner Enterprises by 2.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 6,257 shares of the transportation company’s stock worth $164,000 after buying an additional 163 shares during the period. Royal Bank of Canada grew its position in shares of Werner Enterprises by 190.5% in the 2nd quarter. Royal Bank of Canada now owns 7,430 shares of the transportation company’s stock worth $218,000 after buying an additional 4,872 shares during the period. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Werner Enterprises in the 2nd quarter worth about $242,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Werner Enterprises Company Profile
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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