Wabash National (NYSE:WNC) Shares Gap Down – Time to Sell?

Shares of Wabash National Corporation (NYSE:WNC) gapped down prior to trading on Wednesday . The stock had previously closed at $13.42, but opened at $11.94. Wabash National shares last traded at $12.3020, with a volume of 1,494,131 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson upgraded shares of Wabash National from a “neutral” rating to a “buy” rating and lifted their target price for the company from $8.50 to $20.00 in a research report on Wednesday, June 17th. Citizens Jmp began coverage on shares of Wabash National in a research note on Wednesday. They set an “outperform” rating and a $25.00 price target for the company. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Finally, Wall Street Zen cut Wabash National from a “sell” rating to a “strong sell” rating in a report on Sunday. Two 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Wabash National Stock Down 9.3%

The firm has a market cap of $494.99 million, a price-to-earnings ratio of -7.62 and a beta of 1.43. The business’s 50-day moving average is $9.78 and its 200-day moving average is $9.67. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.77 and a current ratio of 1.33.

Wabash National (NYSE:WNC) last released its quarterly earnings results on Friday, May 1st. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). The firm had revenue of $303.23 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) earnings per share. On average, equities analysts predict that Wabash National Corporation will post -1.75 EPS for the current year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Wabash National’s dividend payout ratio (DPR) is currently -20.00%.

Institutional Trading of Wabash National

Large investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co acquired a new position in Wabash National during the 4th quarter worth about $37,000. Quadrant Capital Group LLC increased its position in Wabash National by 515.4% in the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock valued at $47,000 after acquiring an additional 4,530 shares in the last quarter. CWM LLC raised its stake in shares of Wabash National by 82.6% in the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after acquiring an additional 2,758 shares during the last quarter. BNP Paribas Financial Markets lifted its position 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 worth $80,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in shares of Wabash National during the third quarter valued at approximately $102,000. 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.