Wabash National Corporation (NYSE:WNC – Get Free Report)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $14.42 and last traded at $13.3780, with a volume of 23816 shares. The stock had previously closed at $14.22.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on WNC. Citizens Jmp assumed coverage on Wabash National in a report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. DA Davidson restated a “buy” rating and set a $20.00 price objective on shares of Wabash National in a report on Monday, August 24th. Finally, National Bank Financial set a $20.00 target price on shares of Wabash National in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.67.
Check Out Our Latest Stock Report on WNC
Wabash National Price Performance
Wabash National (NYSE:WNC – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. The business had revenue of $417.24 million during the quarter, compared to analysts’ expectations of $402.85 million. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.Wabash National’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) EPS. Equities analysts anticipate that Wabash National Corporation will post -2.41 earnings per share for the current year.
Wabash National Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, October 8th. Wabash National’s dividend payout ratio is -16.58%.
Institutional Trading of Wabash National
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Wabash National during the second quarter worth about $47,125,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after acquiring an additional 36,226 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Wabash National by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock valued at $14,291,000 after acquiring an additional 247,345 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Wabash National by 17.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock worth $13,394,000 after acquiring an additional 233,979 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Wabash National by 4.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock worth $15,367,000 after acquiring an additional 59,054 shares during the last quarter. Institutional investors and hedge funds own 97.05% of the company’s stock.
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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