Wabash National (NYSE:WNC) Shares Break Above 200 Day Moving Average – Here’s Why

Wabash National Corporation (NYSE:WNC – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $10.92 and traded as high as $11.85. Wabash National shares last traded at $11.53, with a volume of 709,638 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on WNC. Citizens Jmp started coverage on Wabash National in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective on the stock. DA Davidson raised Wabash National from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Weiss Ratings upgraded Wabash National from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, November 2nd. Citigroup reissued a “market outperform” rating on shares of Wabash National in a report on Tuesday, October 20th. Finally, Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Get Our Latest Report on WNC

Wabash National Stock Up 3.6%

The firm has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $10.93. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.84 and a current ratio of 1.38.

Wabash National (NYSE:WNC – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.17). Wabash National had a negative net margin of 9.13% and a negative return on equity of 42.42%. The business had revenue of $476.41 million for the quarter, compared to analysts’ expectations of $453.74 million. During the same period last year, the company earned ($0.51) earnings per share. Wabash National’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that Wabash National Corporation will post -2.96 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, October 8th. This represents a $0.32 annualized dividend and a dividend yield of 2.7%. Wabash National’s dividend payout ratio is currently -9.38%.

Hedge Funds Weigh In On Wabash National

A number of large investors have recently made changes to their positions in the stock. GW&K Investment Management LLC bought a new position in Wabash National in the 3rd quarter worth about $3,047,000. First Eagle Investment Management LLC increased its position in shares of Wabash National by 185.2% during the third quarter. First Eagle Investment Management LLC now owns 801,112 shares of the company’s stock valued at $9,878,000 after buying an additional 520,262 shares during the period. Royce & Associates LP increased its position in shares of Wabash National by 41.0% during the third quarter. Royce & Associates LP now owns 597,568 shares of the company’s stock valued at $7,368,000 after buying an additional 173,884 shares during the period. Russell Investments Group Ltd. increased its position in shares of Wabash National by 133.6% during the third quarter. Russell Investments Group Ltd. now owns 208,425 shares of the company’s stock valued at $2,570,000 after buying an additional 119,183 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Wabash National by 520.2% in the third quarter. Parallel Advisors LLC now owns 3,169 shares of the company’s stock worth $39,000 after buying an additional 2,658 shares in the last quarter. 97.05% of the stock is owned by institutional investors.

Wabash National Company Profile

(Get Free Report)

Wabash National Corporation designs and manufactures equipment and solutions for the transportation, logistics and distribution industries. Its products include dry and refrigerated van trailers, platform trailers, tank trailers, truck bodies and equipment for final-mile delivery. The company also supplies parts, components and services for commercial vehicles and offers products used in applications such as cold-chain transportation and warehouse operations. Wabash serves customers primarily in North America.

Further Reading

Receive News & Ratings for Wabash National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wabash National and related companies with MarketBeat.com's FREE daily email newsletter.