Wabash National (NYSE:WNC – Get Free Report)‘s stock had its “neutral” rating restated by equities research analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $8.50 price target on the stock. DA Davidson’s price objective indicates a potential upside of 20.23% from the stock’s current price.
A number of other brokerages also recently weighed in on WNC. Wall Street Zen downgraded shares of Wabash National from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Weiss Ratings lowered Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Wabash National currently has an average rating of “Reduce” and a consensus target price of $8.75.
View Our Latest Stock Report on Wabash National
Wabash National Stock Performance
Wabash National (NYSE:WNC – Get Free Report) last issued 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). The company had revenue of $303.23 million during the quarter, compared to analysts’ expectations of $319.03 million. Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.Wabash National’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.58) earnings per share. As a group, sell-side analysts anticipate that Wabash National will post -1.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Wabash National
Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Wabash National by 39.6% during the first quarter. Bank of America Corp DE now owns 220,248 shares of the company’s stock valued at $1,899,000 after purchasing an additional 62,519 shares during the last quarter. Royal Bank of Canada lifted its holdings in Wabash National by 1,036.0% during the first quarter. Royal Bank of Canada now owns 50,621 shares of the company’s stock valued at $436,000 after purchasing an additional 46,165 shares during the last quarter. Empowered Funds LLC lifted its holdings in Wabash National by 40.1% during the first quarter. Empowered Funds LLC now owns 589,884 shares of the company’s stock valued at $5,085,000 after purchasing an additional 168,929 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Wabash National by 17.1% during the first quarter. Quantinno Capital Management LP now owns 174,796 shares of the company’s stock valued at $1,507,000 after purchasing an additional 25,483 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Wabash National by 13.2% during the first quarter. Renaissance Technologies LLC now owns 224,365 shares of the company’s stock valued at $1,934,000 after purchasing an additional 26,100 shares during the last quarter. 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.
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