Werner Enterprises (NASDAQ:WERN) Shares Gap Up to $45.96

Shares of Werner Enterprises, Inc. (NASDAQ:WERN) gapped up before the market opened on Wednesday . The stock had previously closed at $45.96, but opened at $47.40. Werner Enterprises shares last traded at $46.75, with a volume of 4,992 shares traded.

Several brokerages have issued reports on WERN. Wells Fargo & Company cut their price objective on shares of Werner Enterprises from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, July 13th. Credit Suisse Group reiterated a “hold” rating and issued a $49.00 price target on shares of Werner Enterprises in a research report on Friday, July 2nd. Morgan Stanley lifted their price target on shares of Werner Enterprises from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Cowen upgraded shares of Werner Enterprises from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $56.00 in a research report on Wednesday. Finally, Stifel Nicolaus assumed coverage on shares of Werner Enterprises in a research report on Monday, June 21st. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Werner Enterprises presently has a consensus rating of “Hold” and a consensus price target of $49.88.

The business’s 50 day simple moving average is $45.85 and its two-hundred day simple moving average is $46.26. The stock has a market cap of $3.18 billion, a P/E ratio of 13.97, a PEG ratio of 1.01 and a beta of 0.78. The company has a quick ratio of 2.53, a current ratio of 2.57 and a debt-to-equity ratio of 0.23.

Werner Enterprises (NASDAQ:WERN) last posted its earnings results on Thursday, July 29th. The transportation company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). Werner Enterprises had a return on equity of 17.53% and a net margin of 9.10%. The company had revenue of $649.81 million for the quarter, compared to the consensus estimate of $642.99 million. As a group, research analysts forecast that Werner Enterprises, Inc. will post 3.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 19th. Investors of record on Monday, October 4th will be paid a $0.12 dividend. The ex-dividend date is Friday, October 1st. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. Werner Enterprises’s dividend payout ratio is 18.53%.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Werner Enterprises by 14.5% during the second quarter. BlackRock Inc. now owns 9,751,119 shares of the transportation company’s stock valued at $434,121,000 after acquiring an additional 1,231,409 shares during the last quarter. Victory Capital Management Inc. boosted its position in Werner Enterprises by 18.0% during the second quarter. Victory Capital Management Inc. now owns 1,785,116 shares of the transportation company’s stock valued at $79,474,000 after acquiring an additional 272,321 shares during the last quarter. Wells Fargo & Company MN boosted its position in Werner Enterprises by 17.3% during the second quarter. Wells Fargo & Company MN now owns 1,600,474 shares of the transportation company’s stock valued at $71,253,000 after acquiring an additional 236,608 shares during the last quarter. abrdn plc boosted its position in Werner Enterprises by 48.8% during the second quarter. abrdn plc now owns 1,239,440 shares of the transportation company’s stock valued at $55,180,000 after acquiring an additional 406,311 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Werner Enterprises by 3.4% during the second quarter. AQR Capital Management LLC now owns 1,129,518 shares of the transportation company’s stock valued at $50,286,000 after acquiring an additional 37,468 shares during the last quarter. 81.47% of the stock is currently owned by institutional investors.

About Werner Enterprises (NASDAQ:WERN)

Werner Enterprises, Inc engages in the provision of logistics services. It operates through the Truckload Transportation Services and Werner Logistics segments. The Truckload Transportation Services segment consists of one-way truckload and specialized services units such as the medium-to-long haul van fleet which provides a consumer non durable products and commodities in truckload quantities.

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