Wabash National (NYSE:WNC) Research Coverage Started at Citizens Jmp

Citizens Jmp started coverage on shares of Wabash National (NYSE:WNC) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $25.00 target price on the stock.

Several other analysts also recently weighed in on WNC. DA Davidson upgraded Wabash National from a “neutral” rating to a “buy” rating and upped their price target for the stock from $8.50 to $20.00 in a research note on Wednesday, June 17th. Weiss Ratings cut Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Wabash National from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

Wabash National Stock Up 7.0%

Shares of Wabash National stock opened at $13.41 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77. The company has a 50-day moving average of $10.09 and a 200 day moving average of $9.75. The firm has a market cap of $545.47 million, a price-to-earnings ratio of -8.38 and a beta of 1.43. Wabash National has a 1 year low of $6.63 and a 1 year high of $14.32.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The business had revenue of $303.23 million for the quarter, compared to analysts’ expectations of $319.03 million. During the same period last year, the business earned ($0.58) earnings per share. The company’s revenue was down 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wabash National will post -1.75 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Wabash National’s dividend payout ratio (DPR) is presently -20.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Wabash National by 93.9% in the 1st quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock worth $339,000 after buying an additional 14,912 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Wabash National by 59.1% during the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock valued at $2,483,000 after acquiring an additional 83,473 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Wabash National by 864.3% during the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock valued at $5,078,000 after acquiring an additional 411,889 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Wabash National in the first quarter worth approximately $166,000. Finally, Empowered Funds LLC raised its holdings in shares of Wabash National by 4.2% during the first quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock valued at $2,237,000 after purchasing an additional 8,205 shares during the last quarter. 97.05% of the stock is owned by institutional investors.

Wabash National Company Profile

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.