Wabash National’s (WNC) Neutral Rating Reiterated at DA Davidson

Wabash National (NYSE:WNC)‘s stock had its “neutral” rating reiterated by DA Davidson in a report released on Thursday,Benzinga reports. They presently have a $11.00 target price on the stock. DA Davidson’s target price suggests a potential downside of 4.31% from the stock’s previous close.

Several other brokerages have also weighed in on WNC. Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings upgraded shares of Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. National Bank Financial set a $9.00 price objective on shares of Wabash National in a research report on Thursday, October 23rd. Finally, Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Wabash National has a consensus rating of “Hold” and a consensus price target of $10.00.

Wabash National Stock Down 0.9%

Shares of WNC traded down $0.11 during midday trading on Thursday, reaching $11.50. The stock had a trading volume of 136,013 shares, compared to its average volume of 662,207. The company has a market cap of $465.78 million, a price-to-earnings ratio of 2.36 and a beta of 1.67. The company’s fifty day simple moving average is $10.14 and its two-hundred day simple moving average is $9.78. Wabash National has a 1-year low of $6.78 and a 1-year high of $12.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.39 and a quick ratio of 0.79.

Wabash National (NYSE:WNC) last posted its earnings results on Wednesday, February 4th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.16). Wabash National had a net margin of 13.71% and a negative return on equity of 22.80%. The business had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $318.32 million. During the same period last year, the company earned ($0.02) EPS. The business’s quarterly revenue was down 22.9% compared to the same quarter last year. Equities research analysts expect that Wabash National will post 0.94 earnings per share for the current year.

Institutional Trading of Wabash National

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CenterBook Partners LP raised its stake in shares of Wabash National by 263.6% during the 2nd quarter. CenterBook Partners LP now owns 494,457 shares of the company’s stock worth $5,256,000 after buying an additional 358,478 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Wabash National by 61.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 309,952 shares of the company’s stock valued at $3,295,000 after purchasing an additional 117,554 shares in the last quarter. Nierenberg Investment Management Company Inc. lifted its stake in shares of Wabash National by 39.6% in the second quarter. Nierenberg Investment Management Company Inc. now owns 77,555 shares of the company’s stock valued at $824,000 after purchasing an additional 22,000 shares during the period. First Trust Advisors LP purchased a new stake in Wabash National during the second quarter worth about $32,629,000. Finally, Entropy Technologies LP acquired a new position in Wabash National during the second quarter worth about $162,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.