Werner Enterprises (WERN) NewsBite - Downgrade Puts Pressure on WERN

Posted on Wednesday, March 12, 2008 12:53 PM

Werner Enterprises Inc. (WERN) opened at 17.76. So far today, the stock has hit a low of 17.57 and a high of 18.24. WERN is now trading at 17.79, down 0.91 (-5.12%). The stock hit its 52 week high of 22.00 in August and set its 52 week low of 15.26 in January. WERN climbed during the first half of 2007, but has been trading lower since July. Werner Enterprises shares have been falling into the red today after a Bear Stearns analyst cut his rating on the stock to "Underperform" from "Peer Perform." Technical indicators for the stock are bullish and steady while S&P gives WERN a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a June bear-call credit spread above the $20 range. WERN stock could rise up to 12.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]