Werner Enterprises, Inc. research snapshot
WERN AI stock analysis as of the August 4, 2026 data cutoff reads Werner Enterprises as a cyclical mid-cap truckload and logistics company in the early stages of a supply-driven freight recovery. The stock closed at $37.13 on August 3, 2026, down 0.29 or 0.77% from the $37.42 close on July 31, after opening at $37.21 and trading in a session range of $36.65 to $37.93 on volume of 1,150,828 shares, with a market capitalization near $2.23 billion matching the $37.13 price times 59.98 million shares outstanding and an enterprise value near $3.11 billion. Q2 2026 results, reported July 28, 2026, were strong on the surface: revenue rose 24% to $934 million, adjusted operating income rose 67% to $27.6 million, adjusted operating margin expanded 80 basis points to 3.0%, and adjusted EPS rose to $0.22 from $0.08, helped by the FirstFleet acquisition and the One-Way restructuring. The stock still sold off roughly 22% from the July 21, 2026 high of $47.49 after management lowered the full-year average truck fleet growth guide from 23% to 28% down to 16% to 18% on slower driver hiring and stronger productivity, a move several sell-side firms including Susquehanna and Baird called an overreaction. TTM revenue reached approximately $3.25 billion, while TTM net income remained negative at around -$46.28 million as the multi-year freight downcycle continues to compress profitability. The key question is whether the supply-side capacity reduction, One-Way repricing, FirstFleet synergies, and logistics margin recovery produce a sustained earnings inflection in the second half of 2026 and into 2027. This WERN AI stock analysis is informational only and is not investment advice.
Current price
$37.13 at the August 3, 2026, 4:00 PM EDT market close, down 0.29 or 0.77% from the $37.42 July 31 close, after opening at $37.21 and trading in a session range of $36.65 to $37.93 on the real-time quote, with the daily price history confirming the same $37.13 close on volume of 1,150,828 shares
Market cap
$2.23 billion reported by StockAnalysis.com at the August 3, 2026 market close, matching the $37.13 price times 59.98 million shares outstanding, with enterprise value near $3.11 billion
AI score
60 / 100
Rating
Improved cyclical mid-cap truckload carrier that delivered strong Q2 2026 results but sold off sharply after guidance lowered fleet growth
Trend status
Short-term downtrend after the post-earnings selloff, with price below the 50-day average near $42.43 but above the 200-day average near $33.90
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Werner operates one of the larger US truckload fleets with dedicated contract carriage, one-way truckload, intermodal, brokerage, and final-mile services. Dedicated now represents 76% of TTS trucking revenue and 80% of TTS trucks at quarter end, and the FirstFleet acquisition expanded the dedicated base with a 98% renewal rate on over 80% of the portfolio renewed so far. | Medium |
| Moat | Fleet scale, cross-border Mexico expertise, a roughly 70-year trucking brand, the Roadmaster driver school network, and long-term dedicated contract relationships provide some competitive advantages, but trucking remains a fragmented, capital-intensive industry with low switching costs and intense price competition. | Low-medium |
| Management | CEO Derek Leathers has led since 2018. Q2 2026 showed the restructuring paying off: One-Way adjusted operating margin improved more than 700 basis points, revenue per truck per week rose 27.7%, miles per truck rose 15.7%, FirstFleet synergies are ahead of schedule with over $3 million realized year to date, and Q2 free cash flow reached $94 million. Management sees no further One-Way restructuring expenses and expects the driver hiring pace to improve through the third quarter. The main test is whether margin gains survive driver scarcity and rising capex. | Medium |
| Financial trend | TTM revenue of $3.25 billion is up 9.6%, but TTM net income is still negative near -$46.28 million. Q2 2026 was a clear step up, with adjusted operating income up 67%, adjusted operating margin at 3.0% and up 80 basis points, and free cash flow of $94 million, so the trend is inflecting even though trailing earnings remain negative. CFO Chris Wikoff expects consolidated adjusted operating margin to improve by a similar roughly 150-basis-point pace in Q3 and Q4, moving toward mid-single digits. | Medium |
| Valuation | At $37.13, WERN trades at 0.68x sales, 1.64x book value, and about 9.4x operating cash flow. The consensus FY2026 adjusted EPS of $1.07 implies a roughly 34.6x multiple on that basis, so the price embeds a meaningful 2027 earnings recovery and sits about 14.9% below the $42.67 average analyst target. | Medium for math, low for forward estimates |
| Technical trend | The stock is in a short-term downtrend after a roughly 22% pullback from the July 21, 2026 high of $47.49 to $37.13, closing below the 50-day average near $42.43 but holding above the 200-day average near $33.90, with 14-day RSI near 32.21 suggesting a near-oversold condition. | Medium |
| Risk level | Risk is medium-high due to cyclical freight demand, negative trailing EPS, elevated short interest of 7.38% of shares outstanding, a fleet growth guidance cut on driver scarcity, logistics margin pressure, rising capex, insurance and nuclear-verdict cost risk, and a mixed analyst mix of 4 Strong Buy, 1 Buy, 9 Hold, and 2 Sell. | Medium-high |
| AI confidence | Reported market data, Q2 2026 results, guidance, and balance-sheet figures are well documented and cross-checked. Forward EPS estimates and the forward PE basis carry inherent estimation risk, and cash-flow figures differ slightly between the StockAnalysis.com TTM gross-capex presentation and the net-capex basis management uses. | High for descriptive data, medium for forward estimates |
| Investment certainty | Low-medium certainty. The page supports a research process, not a buy or sell decision. The Q3 2026 earnings report expected in late October 2026 and freight-demand indicators will provide important updates on margin trajectory and fleet growth. | Low-medium |
WERN AI stock forecast
The WERN AI stock forecast uses three-year scenario ranges from the August 3, 2026 close of $37.13, consensus FY2026 adjusted EPS of $1.07 and FY2027 adjusted EPS of $2.18, book value of $22.61, and earnings-multiple assumptions. Because trailing EPS is negative and the recovery is not yet visible in trailing earnings, the ranges depend heavily on whether freight demand, margins, and utilization keep improving. The ranges change if capacity attrition, rate increases, FirstFleet synergies, logistics margins, driver hiring, or market multiples change.
$52 to $66
More likely if the supply-driven recovery broadens into demand, One-Way and dedicated rates keep rising, FY2028 adjusted EPS reaches $3.00 to $3.50, logistics returns to positive margins, driver hiring accelerates, and the market assigns a 16x to 18x forward multiple or about 2.2x to 2.6x book value.
$38 to $46
More likely if the freight recovery is gradual, FY2028 adjusted EPS reaches $2.25 to $2.75, margin expansion continues at a moderate pace, and the market assigns roughly a 13x to 16x forward multiple, consistent with the $42.67 consensus analyst target.
$22 to $32
More likely if freight demand stalls, One-Way pricing fades, logistics keeps losing money, the driver shortage limits fleet growth, used-truck values disappoint, and the stock reverts toward book value of $22.61 at 1.0x to 1.4x book.
WERN AI technical analysis
WERN AI technical analysis uses the $37.13 August 3, 2026 closing quote and StockAnalysis.com statistics and daily price history. This static page cannot fetch live chart data, so support, resistance, moving averages, momentum, volume, and volatility must be rechecked in a current chart before use. The stock broke down roughly 22% from the July 21, 2026 high of $47.49 after Q2 results, closing below the 50-day moving average near $42.43 but holding above the 200-day moving average near $33.90.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $37.13 | Closing price on August 3, 2026, down 0.77%, near the bottom of the post-earnings selloff range of $36.65 to $47.49. |
| Near support | $36.65 to $37.00 | The August 3, 2026 intraday low of $36.65 and round-number psychology near $37 define the first floor under price. |
| Next support | $33.90 to $35.74 | The 200-day moving average near $33.90 and the July 29, 2026 swing low of $35.74 form the next support cluster below price. |
| Near resistance | $38.61 to $40.43 | The July 31, 2026 high of $38.61, the July 28 earnings-day open of $40.04, and the July 27 close of $40.43 define the first overhead zone. |
| Next resistance | $42.43 to $45.82 | The 50-day moving average near $42.43 and the July 22-23 gap-down area between $45.82 and $46.37 sit above as the next recovery targets. |
| 52-week range | $23.06 to $47.49 | The wide one-year range reflects the swing from freight-cycle pessimism near $23.06 in late 2025 to recovery optimism and the July 21, 2026 peak of $47.49. |
| Momentum | Weak, RSI near 32.2 | The 14-day RSI was near 32.21 on StockAnalysis.com statistics on August 3, 2026, a near-oversold short-term reading after the selloff. |
| Volume | Elevated during the selloff | Trading jumped to about 2.8 million to 3.2 million shares on July 28-29, 2026, well above the 20-day average near 1.44 million shares, confirming distribution during the breakdown. |
| Volatility | Above average | Beta of 1.26 on StockAnalysis.com statistics and a freight-cycle-dependent earnings profile mean quarterly results, guidance, and freight data can produce outsized moves. |
| Invalidation | Sustained close below the 200-day near $33.90 | This is a framework trigger, not a guaranteed stop price. A close below the 200-day moving average near $33.90 would break the longer-term uptrend; a reclaim of the 50-day near $42.43 would repair the short-term chart. |
WERN AI trading strategy
The WERN AI trading strategy is a rules-based research framework for a mid-cap cyclical trucking stock after a sharp post-earnings selloff. It is not personalized advice. Position size, loss limits, and a fresh review of live price, volume, the Q3 2026 earnings report expected in late October 2026, freight-demand indicators, and balance-sheet data should come before any action.
WERN is in a short-term downtrend below the 50-day moving average near $42.43. Wait for the stock to stabilize above the $38.61 to $40.43 zone and reclaim the 50-day average with above-average volume before treating the pullback as over.
If the stock keeps losing ground and closes below the 200-day moving average near $33.90, the longer-term setup is broken and the framework should be reassessed.
With RSI near 32.2 and price near the $36.65 support and the $33.90 to $35.74 zone, a mean-reversion setup is possible only if the freight recovery thesis stays intact. Wait for a reversal confirmation such as a strong up day on rising volume before acting.
Do not average down without a preset maximum loss. A close below $33.90 or a freight-data disappointment invalidates the thesis, and book value of $22.61 is context, not a target.
Track Werner's quarterly adjusted operating margin, One-Way revenue per truck per week and rate per mile, dedicated retention and revenue per truck per week, logistics gross margin, FirstFleet synergy realization, driver hiring, used-truck values, freight-demand indicators such as the Cass Freight Index and ATA Truck Tonnage, and Mexico cross-border conditions.
Reduce conviction if the freight recovery disappoints, One-Way pricing fades, logistics margins stay negative, short interest keeps rising, or the dividend is cut.
Investment research summary
Customers pay Werner to move freight reliably across the US, Canada, and Mexico. The truckload model depends on fleet utilization, driver retention, fuel-cost management, pricing discipline, and the broader freight economy. Dedicated now generates 76% of TTS trucking revenue and 80% of TTS trucks, and the logistics segment adds brokerage, intermodal, and final-mile services with thinner margins.
Werner's moat rests on fleet scale, cross-border Mexico expertise, a roughly 70-year brand in trucking, long-term dedicated contract relationships with a 98% renewal rate on the renewed FirstFleet portfolio, and the vertically integrated Roadmaster driver school network. However, trucking is a fragmented, asset-intensive industry with low switching costs, and customers can shift freight to competitors such as JBHT, KNX, and ODFL or to private fleets.
The thesis fails if the freight recovery stalls or demand deteriorates, One-Way pricing fades, logistics losses continue, the driver shortage limits fleet growth and utilization, used-truck values fall despite the guidance, insurance and nuclear-verdict costs rise, or the higher capex and FirstFleet debt burden the balance sheet before earnings inflect.
CEO Derek Leathers and his team executed a structural reset. Q2 2026 delivered One-Way adjusted operating margin improvement of more than 700 basis points, revenue per truck per week up 27.7%, miles per truck up 15.7%, dedicated revenue per truck per week up 5.4% with legacy Dedicated up 8%, FirstFleet synergies ahead of schedule with over $3 million realized year to date, and free cash flow of $94 million. Management says no further One-Way restructuring expenses are expected, and it sees a better driver hiring pace building through the third quarter. The 2026 fleet growth guide cut reflects a slower driver market, which management frames as a delay of growth rather than lost opportunity.
Freight demand is cyclical and showing early signs of a supply-driven recovery as enforcement around non-domiciled CDLs, English language proficiency, cabotage, and ELD providers removes capacity, with management comparing the enforcement cycle to the third inning. The industry still faces structural headwinds from private-fleet growth, autonomous truck development, rising insurance and verdict costs, and the 2027 emissions engine transition.
At $37.13, WERN trades at 0.68x sales, 1.64x book value, and about 9.4x operating cash flow. The consensus FY2026 adjusted EPS of $1.07 implies a roughly 34.6x multiple on that basis, so the price embeds a meaningful 2027 recovery and sits about 14.9% below the $42.67 consensus target. Book value of $22.61 provides a long-term floor, and the dividend yield near 1.5% offers a modest buffer.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| WERN price | $37.13 at the August 3, 2026, 4:00 PM EDT market close, down 0.29 or 0.77% from the $37.42 July 31 close, after opening at $37.21 and trading in a session range of $36.65 to $37.93, with the daily price history confirming the $37.13 close on volume of 1,150,828 shares | StockAnalysis.com real-time quote and daily price history | August 4, 2026 |
| Market capitalization | $2.23 billion at the August 3, 2026 market close, matching the $37.13 price times 59.98 million shares outstanding, with enterprise value near $3.11 billion | StockAnalysis.com quote and statistics | August 4, 2026 |
| Q2 2026 adjusted results | Revenue of $934 million up 24%, adjusted operating income of $27.6 million up 67%, adjusted operating margin of 3.0% up 80 basis points, adjusted EPS of $0.22 up $0.14, and consolidated gains on sale of property and equipment of $1.5 million which lowered adjusted EPS by $0.05 | Werner Q2 2026 earnings release and earnings call | August 4, 2026 |
| Q2 2026 revenue vs consensus | Q2 2026 revenue of $933.9 million versus consensus of $932.1 million, and Q2 2026 EPS of $0.22 versus consensus of $0.23 | TheFly via StockAnalysis.com news and StockAnalysis.com Q2 2026 transcript | August 4, 2026 |
| Truckload Transportation Services results | Q2 2026 TTS revenue of $703 million up 36%, revenue net of fuel of $582 million up 26%, adjusted operating income of $32.3 million, and adjusted operating margin net of fuel of 5.5% up 270 basis points, or up 370 basis points excluding gains, with TTS average trucks up 16% year over year to 8,712 | Werner Q2 2026 earnings call | August 4, 2026 |
| One-Way truckload results | Q2 2026 One-Way trucking revenue net of fuel down 16% to $138 million, revenue per truck per week up 27.7%, miles per truck up 15.7%, revenue per total mile up 10.4%, adjusted operating margin up more than 700 basis points, and average trucks down 34% to 1,736, with roughly 60% of the One-Way portfolio repriced at higher rates in the first half | Werner Q2 2026 earnings call | August 4, 2026 |
| Dedicated truckload results | Q2 2026 Dedicated trucking revenue net of fuel of $434 million up 51%, revenue per truck per week up 5.4% with legacy Dedicated up 8%, 76% of TTS trucking revenue versus 64% a year ago and 80% of TTS trucks at quarter end, customer retention over 95%, and Dedicated bid volume the highest of any quarter since 2020 | Werner Q2 2026 earnings call | August 4, 2026 |
| Logistics results | Q2 2026 Logistics revenue of $212 million down 4% year over year and up 8% sequentially, adjusted operating margin of -1.3% down 400 basis points, truckload logistics down 10% on 29% fewer shipments with 26% higher revenue per load, intermodal up 18%, and final mile up 14% | Werner Q2 2026 earnings call | August 4, 2026 |
| FirstFleet integration and synergies | Over $3 million in savings realized year to date representing over 100 basis points of margin improvement, about $9 million in annualized cost savings actioned with over $7 million to be realized in 2026, a total synergy goal of $18 million, and a 98% renewal rate on over 80% of the portfolio renewed so far | Werner Q2 2026 earnings call | August 4, 2026 |
| Q2 2026 cash flow | Q2 operating cash flow of $85 million up 84% year over year, net capex of a net proceed of nearly $10 million, and Q2 free cash flow of $94 million or 10% of total revenues, with first-half free cash flow of $176 million or 10% of revenues | Werner Q2 2026 earnings call | August 4, 2026 |
| Balance sheet and liquidity | Liquidity of $657 million including $57 million of cash and $600 million of credit facility availability, total debt of $841 million including $48 million of FirstFleet capital leases and $793 million on credit facilities, net debt down $86 million sequentially and up $111 million from a year earlier, and covenant pro forma net leverage of 2.0x | Werner Q2 2026 earnings call | August 4, 2026 |
| 2026 fleet and capex guidance | Full-year average truck fleet growth cut from up 23%-28% to up 16%-18%, full-year net capex raised from $185-$225 million to $215-$250 million, and free cash flow still expected to be positive for the full year at upper single digits as a percentage of revenue | Werner Q2 2026 earnings call | August 4, 2026 |
| 2026 margin and earnings guidance | Dedicated revenue per truck per week guidance raised from flat to up 3% to up 3%-5%, One-Way revenue per total mile guidance for Q3 up 10%-13% year over year, earnings growth expected at an accelerated pace in the second half, and consolidated adjusted operating margin expected to keep improving toward mid-single digits | Werner Q2 2026 earnings call | August 4, 2026 |
| 2026 tax, interest, and gains guidance | Full-year effective tax rate maintained at 25.5%-26.5% after a Q2 rate of 27.3%, net interest expense of $40-$45 million, and gains on sale of used equipment narrowed from $8-$18 million to $10-$14 million with first-half gains of $5.2 million | Werner Q2 2026 earnings call | August 4, 2026 |
| TTM revenue | Approximately $3.25 billion over the trailing twelve months ended June 30, 2026, up 9.6%, matching StockAnalysis.com statistics and financials | StockAnalysis.com statistics and financials | August 4, 2026 |
| TTM net income and EPS | TTM net income of approximately -$46.28 million and TTM GAAP EPS of -$0.78 on the statistics page and -$0.76 on the financials page | StockAnalysis.com statistics and financials | August 4, 2026 |
| Forward EPS estimates | FY2026 adjusted EPS consensus of $1.07, FY2027 adjusted EPS consensus of $2.18, and FY2026 revenue consensus of $3.61 billion up 21.43% from $2.97 billion | StockAnalysis.com forecast | August 4, 2026 |
| Valuation check | Forward PE of 21.63, forward PE of 34.63 on the FY2026 adjusted EPS consensus basis, PS ratio of 0.68, PB ratio of 1.64, P/OCF of 9.44, EV/Sales of 0.96, and a dividend yield of 1.51% at the $37.13 price | StockAnalysis.com statistics and forecast | August 4, 2026 |
| Book value and balance sheet | Book value per share of $22.61, cash of $57.02 million, total debt of $941.91 million, net cash of -$884.88 million or -$14.75 per share, and a Debt/Equity ratio of 0.68 as of June 30, 2026 | StockAnalysis.com statistics and balance sheet | August 4, 2026 |
| Cash flow (TTM, gross capex basis) | TTM operating cash flow of $235.91 million, capital expenditures of $279.64 million, and free cash flow of -$43.73 million over the trailing twelve months, a gross-capex basis that differs from the net-capex basis management uses on the earnings call | StockAnalysis.com cash flow statement | August 4, 2026 |
| Analyst consensus | Hold with an average price target of $42.67 across 16 analysts, low $30 and high $55, median $41, with the average target about 14.9% above the August 3, 2026 close | StockAnalysis.com forecast | August 4, 2026 |
| Analyst rating mix, July 2026 | 4 Strong Buy, 1 Buy, 9 Hold, 2 Sell, and 0 Strong Sell out of 16 analysts | StockAnalysis.com forecast recommendation trends | August 4, 2026 |
| Recent analyst actions | Susquehanna upgraded to Buy with a $44 target on July 30 on a sharp overreaction, Baird upgraded to Buy with a $43 target on July 30, Goldman Sachs maintained Buy with a $48 to $49 target on July 29, Stifel maintained Hold at $40 on July 29, UBS maintained Hold with a $37 to $40 target on July 29, TD Cowen lowered its target to $41 from $43 on July 30, BofA raised its target to $40 from $36 on July 30, JPMorgan raised its target to $39 from $37 on July 30, and Citi lowered its target to $43 from $47 on July 30 | StockAnalysis.com forecast and TheFly via StockAnalysis.com news | August 4, 2026 |
| Short interest | 4.43 million shares short, 7.38% of shares outstanding, 7.54% of float, and 4.31 days to cover, versus 4.39 million short the prior month | StockAnalysis.com statistics short selling | August 4, 2026 |
| Dividend | Annual dividend of $0.56 per share with a 1.51% yield and an ex-dividend date of July 6, 2026, with one year of dividend growth | StockAnalysis.com quote, statistics, and dividend data | August 4, 2026 |
| 52-week range and performance | 52-week range of $23.06 to $47.49, up 38.29% over the trailing 52 weeks, and a 5-year beta of 1.26 | StockAnalysis.com quote and statistics | August 4, 2026 |
| Technical snapshot | 50-day moving average near $42.43 and 200-day moving average near $33.90 on StockAnalysis.com statistics, 14-day RSI near 32.21, and 20-day average volume near 1.44 million shares, with the stock having fallen about 22% from the July 21, 2026 high of $47.49 | StockAnalysis.com statistics and daily price history | August 4, 2026 |
This page is an informational research tool, not investment advice, a solicitation, or a recommendation to buy or sell WERN. Forecasts are scenarios based on available data and assumptions, can be wrong, and should be checked against current filings, live market data, and your own risk assessment.
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