Werner Enterprises, Inc. (NASDAQ:WERN) Sees Significant Decrease in Short Interest

Werner Enterprises, Inc. (NASDAQ:WERN) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 7,657,900 shares, a decline of 8.2% from the June 30th total of 8,337,400 shares. Based on an average daily volume of 749,100 shares, the days-to-cover ratio is currently 10.2 days. Approximately 16.9% of the shares of the stock are sold short.

WERN stock opened at $31.05 on Thursday. Werner Enterprises has a one year low of $27.27 and a one year high of $40.80. The stock has a fifty day moving average of $31.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.94. The stock has a market capitalization of $2.13 billion, a P/E ratio of 13.05, a PEG ratio of 1.46 and a beta of 1.22.

Werner Enterprises (NASDAQ:WERN) last released its earnings results on Thursday, July 25th. The transportation company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Werner Enterprises had a return on equity of 15.11% and a net margin of 7.26%. The company had revenue of $627.53 million during the quarter, compared to analysts’ expectations of $634.67 million. During the same period last year, the firm posted $0.61 EPS. Werner Enterprises’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that Werner Enterprises will post 2.45 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in WERN. Victory Capital Management Inc. grew its holdings in shares of Werner Enterprises by 24.1% in the second quarter. Victory Capital Management Inc. now owns 1,864,863 shares of the transportation company’s stock worth $57,960,000 after purchasing an additional 361,829 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Werner Enterprises in the second quarter worth about $320,000. Jefferies Group LLC bought a new position in shares of Werner Enterprises in the second quarter worth about $295,000. AQR Capital Management LLC grew its holdings in shares of Werner Enterprises by 1.4% in the second quarter. AQR Capital Management LLC now owns 1,045,078 shares of the transportation company’s stock worth $32,460,000 after purchasing an additional 14,259 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Werner Enterprises in the second quarter worth about $225,000. 67.13% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the stock. Deutsche Bank set a $39.00 price target on shares of Werner Enterprises and gave the company a “buy” rating in a report on Thursday, July 11th. ValuEngine raised shares of Werner Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub downgraded shares of Werner Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group lowered their price target on shares of Werner Enterprises from $29.00 to $28.00 and set an “underperform” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley lowered their price target on shares of Werner Enterprises from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Werner Enterprises has an average rating of “Hold” and a consensus price target of $38.55.

About Werner Enterprises

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

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