Wabash National (NYSE:WNC) Upgraded by DA Davidson to “Buy” Rating

Wabash National (NYSE:WNC) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat Ratings reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Wabash National from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.75.

Wabash National Price Performance

Shares of WNC stock opened at $9.28 on Wednesday. The company has a market capitalization of $377.21 million, a PE ratio of -5.80 and a beta of 1.55. The firm has a fifty day simple moving average of $8.22 and a 200-day simple moving average of $9.17. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55. Wabash National has a twelve month low of $6.63 and a twelve month high of $12.94.

Wabash National (NYSE:WNC) last announced its earnings results on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.16). The firm had revenue of $303.23 million during the quarter, compared to analysts’ expectations of $319.03 million. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. Wabash National’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.58) earnings per share. Equities research analysts anticipate that Wabash National will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of Wabash National

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wabash National by 2.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after acquiring an additional 36,226 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wabash National by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock worth $14,291,000 after buying an additional 247,345 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wabash National by 17.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock worth $13,394,000 after buying an additional 233,979 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Wabash National by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock worth $15,367,000 after buying an additional 59,054 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Wabash National by 1.4% in the 3rd quarter. Royce & Associates LP now owns 1,210,338 shares of the company’s stock worth $11,946,000 after buying an additional 16,838 shares during the last quarter. 97.05% of the stock is owned by institutional investors and hedge funds.

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.