Wells Fargo Starts Coverage of Werner Enterprises (WERN) with Underweight Rating

Fintel reports that on June 7, 2024, Wells Fargo initiated coverage of Werner Enterprises (NasdaqGS:WERN) with a Underweight recommendation.

Analyst Price Forecast Suggests 9.07% Upside

As of June 2, 2024, the average one-year price target for Werner Enterprises is 39.86. The forecasts range from a low of 31.31 to a high of $59.85. The average price target represents an increase of 9.07% from its latest reported closing price of 36.55.

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The projected annual revenue for Werner Enterprises is 3,507MM, an increase of 8.92%. The projected annual non-GAAP EPS is 3.89.

What is the Fund Sentiment?

There are 572 funds or institutions reporting positions in Werner Enterprises. This is an decrease of 20 owner(s) or 3.38% in the last quarter. Average portfolio weight of all funds dedicated to WERN is 0.16%, an increase of 4.32%. Total shares owned by institutions increased in the last three months by 1.78% to 71,565K shares. The put/call ratio of WERN is 1.01, indicating a bearish outlook.

What are Other Shareholders Doing?

Macquarie Group holds 4,246K shares representing 6.70% ownership of the company. In its prior filing, the firm reported owning 4,369K shares , representing a decrease of 2.89%. The firm decreased its portfolio allocation in WERN by 24.59% over the last quarter.

Victory Capital Management holds 4,210K shares representing 6.64% ownership of the company. In its prior filing, the firm reported owning 3,974K shares , representing an increase of 5.62%. The firm decreased its portfolio allocation in WERN by 22.84% over the last quarter.

Nuance Investments holds 2,949K shares representing 4.65% ownership of the company. In its prior filing, the firm reported owning 2,268K shares , representing an increase of 23.07%. The firm increased its portfolio allocation in WERN by 37.58% over the last quarter.

SSGSX – Victory Sycamore Small Company Opportunity Fund holds 2,590K shares representing 4.08% ownership of the company. In its prior filing, the firm reported owning 2,445K shares , representing an increase of 5.60%. The firm decreased its portfolio allocation in WERN by 4.04% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 1,975K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 1,924K shares , representing an increase of 2.57%. The firm decreased its portfolio allocation in WERN by 14.70% over the last quarter.

Werner Enterprises Background Information
(This description is provided by the company.)

Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico and China. 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; and temperature-controlled. The 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. Werner Enterprises, Inc.’s common stock trades on the NASDAQ Global Select MarketSM under the symbol ‘WERN’.

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This story originally appeared on Fintel.

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