DA Davidson upgraded shares of Wabash National (NYSE:WNC – Free Report) from a hold rating to a strong-buy rating in a report published on Monday,Zacks reports.
WNC has been the subject of several other research reports. National Bank Financial set a $25.00 price target on Wabash National in a report on Tuesday, October 20th. Citigroup reaffirmed a “market outperform” rating on shares of Wabash National in a report on Tuesday, October 20th. Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price objective on the stock. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Wabash National from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Wabash National has a consensus rating of “Moderate Buy” and an average price target of $23.33.
Check Out Our Latest Analysis on WNC
Wabash National Stock Up 0.3%
Shares of WNC stock opened at $11.77 on Monday. The company’s fifty day simple moving average is $12.89 and its two-hundred day simple moving average is $10.89. Wabash National has a 52 week low of $6.63 and a 52 week high of $14.55. The stock has a market cap of $479.64 million, a P/E ratio of -3.45 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75.
Wabash National (NYSE:WNC – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.17). Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The firm had revenue of $476.41 million for the quarter, compared to analysts’ expectations of $453.74 million. During the same quarter in the previous year, the business earned ($0.51) EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts predict that Wabash National will post -2.41 EPS for the current fiscal year.
Wabash National Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Thursday, October 8th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, October 8th. Wabash National’s dividend payout ratio is presently -9.38%.
Institutional Trading of Wabash National
A number of institutional investors have recently bought and sold shares of WNC. BlackRock Inc. bought a new position in Wabash National during the second quarter valued at $47,125,000. Dimensional Fund Advisors LP raised its stake in shares of Wabash National by 17.5% in the first 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 during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Wabash National in the 2nd quarter worth about $9,812,434. Bank of New York Mellon Corp bought a new stake in shares of Wabash National in the 2nd quarter worth about $6,151,000. Finally, Empowered Funds LLC lifted its holdings in shares of Wabash National by 40.1% in the 1st quarter. Empowered Funds LLC now owns 589,884 shares of the company’s stock worth $5,085,000 after acquiring an additional 168,929 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.
About Wabash National
Wabash National Corporation is a transportation equipment and logistics solutions manufacturer headquartered in Lafayette, Indiana. The company designs and produces equipment used to move freight across North America, serving trucking, transportation, distribution, and logistics customers.
Its product portfolio includes dry and refrigerated van trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also provides related parts, services, and technologies intended to support trailer maintenance, fleet operations, and supply-chain efficiency.
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