Werner Enterprises (WERN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Werner Enterprises (NASDAQ:WERN) from a buy rating to a hold rating in a report issued on Friday morning.

According to Zacks, “Werner Enterprises, Inc. is a premier transportation and logistics company. The company is engaged in hauling truckload shipments of general commodities in both interstate and intrastate commerce. The Company operates throughout the 48 contiguous states pursuant to operating authority, both common and contract, granted by the Department of Transportation and pursuant to intrastate authority granted by various states. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; temperature-controlled. Werner Logistics portfolio includes truck brokerage, freight management, intermodal, international and final mile services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage. “

A number of other research analysts have also commented on WERN. BidaskClub upgraded Werner Enterprises from a hold rating to a buy rating in a research note on Wednesday, August 15th. ValuEngine upgraded Werner Enterprises from a hold rating to a buy rating in a research note on Tuesday, September 11th. Loop Capital initiated coverage on Werner Enterprises in a research note on Monday, October 1st. They issued a buy rating and a $42.00 target price for the company. Wolfe Research lowered Werner Enterprises from a market perform rating to a sell rating in a research note on Friday, October 5th. Finally, Cowen upgraded Werner Enterprises from an underperform rating to a market perform rating and set a $37.00 target price for the company in a research note on Friday, October 19th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $41.40.

Shares of WERN stock traded down $1.37 during trading hours on Friday, reaching $31.05. 653,525 shares of the company’s stock were exchanged, compared to its average volume of 589,909. Werner Enterprises has a fifty-two week low of $30.91 and a fifty-two week high of $43.95. The firm has a market cap of $2.31 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 1.37, a current ratio of 1.41 and a debt-to-equity ratio of 0.04.

Werner Enterprises (NASDAQ:WERN) last issued its quarterly earnings results on Thursday, October 18th. The transportation company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Werner Enterprises had a return on equity of 12.34% and a net margin of 10.71%. The company had revenue of $629.70 million during the quarter, compared to analyst estimates of $628.71 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts predict that Werner Enterprises will post 2.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.36 annualized dividend and a yield of 1.16%. Werner Enterprises’s dividend payout ratio is currently 28.35%.

A number of institutional investors have recently added to or reduced their stakes in WERN. Bank of New York Mellon Corp raised its stake in Werner Enterprises by 62.6% during the third quarter. Bank of New York Mellon Corp now owns 4,852,515 shares of the transportation company’s stock worth $171,537,000 after acquiring an additional 1,868,490 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Werner Enterprises during the third quarter worth $23,053,000. Pinnacle Associates Ltd. acquired a new position in Werner Enterprises during the second quarter worth $21,903,000. Allianz Asset Management GmbH raised its stake in Werner Enterprises by 819.8% during the third quarter. Allianz Asset Management GmbH now owns 554,694 shares of the transportation company’s stock worth $19,609,000 after acquiring an additional 494,387 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Werner Enterprises by 2,183.1% during the second quarter. Voya Investment Management LLC now owns 455,850 shares of the transportation company’s stock worth $17,117,000 after acquiring an additional 435,884 shares in the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.

Werner Enterprises Company Profile

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, China, and Australia. It operates through two segments, Truckload Transportation Services and Werner Logistics.

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