Wabash National’s (WNC) “Strong-Buy” Rating Reaffirmed at Zacks Investment Research

Zacks Investment Research reissued their strong-buy rating on shares of Wabash National (NYSE:WNC) in a research report released on Sunday morning, Zacks.com reports. The brokerage currently has a $16.00 price objective on the stock.

According to Zacks, “Wabash National Corporation is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, and intermodal equipment. Its innovative core products are sold under the DuraPlate, ArcticLite, and Eagle brand names. The company operates two wholly owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed and drop deck trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and aftermarket parts throughout the U.S. and Canada. “

Several other research firms have also commented on WNC. ValuEngine lowered Wabash National from a hold rating to a sell rating in a research note on Saturday, July 6th. Craig Hallum downgraded Wabash National from a buy rating to a hold rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $17.83.

WNC stock opened at $14.69 on Friday. The stock has a market capitalization of $783.14 million, a P/E ratio of 10.20 and a beta of 2.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.09 and a current ratio of 1.92. Wabash National has a one year low of $12.25 and a one year high of $19.43. The company has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $14.59.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. Wabash National had a return on equity of 17.36% and a net margin of 2.67%. The company had revenue of $626.05 million for the quarter, compared to analyst estimates of $613.36 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that Wabash National will post 1.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 3rd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 2.18%. Wabash National’s payout ratio is 22.22%.

A number of hedge funds have recently modified their holdings of WNC. Dimensional Fund Advisors LP boosted its holdings in shares of Wabash National by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,810,110 shares of the company’s stock valued at $62,916,000 after purchasing an additional 37,734 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Wabash National by 62.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,150 shares of the company’s stock worth $314,000 after purchasing an additional 8,940 shares during the period. Texas Permanent School Fund raised its holdings in Wabash National by 2.1% in the first quarter. Texas Permanent School Fund now owns 37,447 shares of the company’s stock valued at $507,000 after buying an additional 779 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Wabash National by 73.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 84,432 shares of the company’s stock valued at $1,144,000 after buying an additional 35,765 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Wabash National by 1.1% in the first quarter. California Public Employees Retirement System now owns 146,291 shares of the company’s stock valued at $1,982,000 after buying an additional 1,547 shares during the period. 98.87% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.

See Also: Hedge Funds

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