Wabash National (NYSE:WNC) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Wabash National (NYSE:WNC) from a hold rating to a strong sell rating in a report released on Thursday morning,Zacks.com reports.

A number of other analysts also recently issued reports on WNC. Wall Street Zen downgraded shares of Wabash National from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Wabash National in a report on Wednesday, October 8th. National Bankshares set a $9.00 price target on shares of Wabash National in a report on Thursday, October 23rd. Finally, DA Davidson reduced their price target on shares of Wabash National from $9.50 to $9.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Wabash National presently has an average rating of “Sell” and a consensus target price of $9.00.

Wabash National Stock Down 0.9%

Shares of WNC stock opened at $8.02 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.68 and a quick ratio of 1.00. The company has a market capitalization of $328.30 million, a price-to-earnings ratio of -3.31 and a beta of 1.66. The company’s fifty day moving average price is $10.06 and its 200-day moving average price is $9.97. Wabash National has a one year low of $6.78 and a one year high of $20.63.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, December 1st. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $482.57 million for the quarter. Wabash National had a negative net margin of 6.38% and a negative return on equity of 7.91%. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. Sell-side analysts expect that Wabash National will post 0.94 EPS for the current fiscal year.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Thursday, October 2nd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.0%. Wabash National’s payout ratio is currently -13.22%.

Hedge Funds Weigh In On Wabash National

Large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of Wabash National by 268.8% during the 1st quarter. Allworth Financial LP now owns 3,220 shares of the company’s stock worth $34,000 after purchasing an additional 2,347 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Wabash National by 55.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company’s stock worth $39,000 after purchasing an additional 1,331 shares during the period. CWM LLC boosted its stake in shares of Wabash National by 1,520.7% during the 1st quarter. CWM LLC now owns 5,235 shares of the company’s stock worth $58,000 after purchasing an additional 4,912 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Wabash National during the 3rd quarter worth about $73,000. Finally, GAMMA Investing LLC boosted its stake in shares of Wabash National by 982.1% during the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $85,000 after purchasing an additional 6,973 shares during the period. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.