Wabash National (NYSE:WNC) Trading Up 6.2% – Time to Buy?

Wabash National Corporation (NYSE:WNCGet Free Report)’s stock price traded up 6.2% on Friday . The stock traded as high as $13.28 and last traded at $13.3210. 758,216 shares changed hands during trading, a decline of 6% from the average session volume of 807,489 shares. The stock had previously closed at $12.54.

Analyst Ratings Changes

A number of research firms recently commented on WNC. Wall Street Zen downgraded shares of Wabash National from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Weiss Ratings cut shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. DA Davidson upgraded shares of Wabash National from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $8.50 to $20.00 in a research report on Wednesday, June 17th. Finally, Citizens Jmp assumed coverage on Wabash National in a report on Wednesday. They issued an “outperform” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Check Out Our Latest Research Report on WNC

Wabash National Price Performance

The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55. The firm has a market cap of $541.44 million, a price-to-earnings ratio of -8.32 and a beta of 1.43. The stock has a 50-day moving average of $9.98 and a two-hundred day moving average of $9.72.

Wabash National (NYSE:WNCGet 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). Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The company had revenue of $303.23 million during the quarter, compared to analysts’ expectations of $319.03 million. During the same period in the prior year, the business posted ($0.58) EPS. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. On average, analysts anticipate that Wabash National Corporation will post -1.75 EPS for the current year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Wabash National’s payout ratio is currently -20.00%.

Institutional Investors Weigh In On Wabash National

Several hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co purchased a new position in Wabash National during the 4th quarter worth approximately $37,000. Quadrant Capital Group LLC boosted its position 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 buying an additional 4,530 shares during the period. CWM LLC boosted its position in shares of Wabash National by 82.6% in the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after buying an additional 2,758 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Wabash National by 104.4% during the third quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after buying an additional 4,129 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new position in Wabash National during the fourth quarter valued at $90,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Company Profile

(Get Free Report)

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.

Further Reading

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