Wabash National Corporation (NYSE:WNC – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $13.27 and last traded at $13.42, with a volume of 78999 shares traded. The stock had previously closed at $12.60.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. DA Davidson raised shares of Wabash National from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $20.00 in a research note on Wednesday, June 17th. Weiss Ratings lowered Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.50.
Check Out Our Latest Stock Report on WNC
Wabash National Price Performance
Wabash National (NYSE:WNC – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The firm had revenue of $303.23 million during the quarter, compared to analyst estimates of $319.03 million. During the same quarter in the prior year, the business earned ($0.58) earnings per share. The business’s revenue was down 20.4% on a year-over-year basis. On average, equities research analysts expect that Wabash National Corporation will post -1.75 EPS for the current fiscal year.
Wabash National Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Wabash National’s dividend payout ratio is presently -20.00%.
Hedge Funds Weigh In On Wabash National
Hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co bought a new position in Wabash National during the fourth quarter worth about $37,000. Quadrant Capital Group LLC increased its holdings in shares of Wabash National by 515.4% in the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock worth $47,000 after acquiring an additional 4,530 shares in the last quarter. CWM LLC raised its position in shares of Wabash National by 82.6% during the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after purchasing an additional 2,758 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Wabash National by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Wabash National during the 4th quarter valued at about $90,000. 97.05% of the stock is owned by institutional investors.
Wabash National Company Profile
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.
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