Wabash National’s (WNC) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of Wabash National (NYSE:WNC) in a research note published on Wednesday morning,Benzinga reports. DA Davidson currently has a $20.00 price objective on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Finally, Citizens Jmp initiated coverage on Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wabash National presently has a consensus rating of “Hold” and an average price target of $18.00.

Wabash National Stock Performance

NYSE WNC opened at $13.93 on Wednesday. Wabash National has a 1 year low of $6.63 and a 1 year high of $14.32. 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 firm has a market cap of $566.70 million, a price-to-earnings ratio of -8.71 and a beta of 1.43. The company has a fifty day moving average price of $10.49 and a 200-day moving average price of $9.86.

Wabash National (NYSE:WNC) last announced its earnings results on Friday, May 1st. The company reported ($1.17) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $303.23 million during the quarter, compared to analysts’ expectations of $319.03 million. During the same quarter in the prior year, the company earned ($0.58) EPS. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. As a group, equities research analysts predict that Wabash National will post -1.75 EPS for the current fiscal year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.32 annualized dividend and a yield of 2.3%. Wabash National’s dividend payout ratio is presently -20.00%.

Institutional Trading of Wabash National

Several hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co bought a new position in shares of Wabash National during the 4th quarter valued at approximately $37,000. Quadrant Capital Group LLC raised its holdings in shares of Wabash National by 515.4% in the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock worth $47,000 after purchasing an additional 4,530 shares during the period. CWM LLC grew its holdings in Wabash National by 82.6% during the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock valued at $53,000 after purchasing an additional 2,758 shares during the period. BNP Paribas Financial Markets increased its position in Wabash National by 104.4% in the third quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock worth $80,000 after buying an additional 4,129 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new stake in Wabash National in the fourth quarter worth $90,000. Institutional investors own 97.05% of the company’s stock.

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.