Wabash National (NYSE:WNC) Given New $11.00 Price Target at DA Davidson

Wabash National (NYSE:WNC) had its target price hoisted by DA Davidson from $9.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the company. National Bankshares set a $9.00 target price on Wabash National in a report on Thursday, October 23rd. Zacks Research upgraded Wabash National from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Weiss Ratings downgraded shares of Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $10.00.

Wabash National Stock Performance

Shares of NYSE WNC opened at $11.47 on Tuesday. The stock’s 50-day moving average is $9.84 and its 200 day moving average is $9.70. The stock has a market cap of $464.76 million, a price-to-earnings ratio of 2.36 and a beta of 1.67. Wabash National has a 1-year low of $6.78 and a 1-year high of $13.50. The company has a current ratio of 1.39, a quick ratio of 0.79 and a debt-to-equity ratio of 1.21.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, February 4th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.16). Wabash National had a negative return on equity of 22.80% and a net margin of 13.71%.The firm had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $318.32 million. During the same period in the prior year, the company earned ($0.02) EPS. The firm’s quarterly revenue was down 22.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wabash National will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Thursday, January 8th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, January 8th. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. Wabash National’s payout ratio is currently 6.57%.

Hedge Funds Weigh In On Wabash National

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Wabash National by 55.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company’s stock worth $39,000 after buying an additional 1,331 shares during the period. CWM LLC raised its stake 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 buying an additional 2,758 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Wabash National in the third quarter worth $73,000. BNP Paribas Financial Markets increased 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 acquiring an additional 4,129 shares in the last quarter. Finally, World Investment Advisors purchased a new position in shares of Wabash National in the 4th quarter worth about $91,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

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.