Wabash National’s (WNC) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Wabash National (NYSE:WNC) in a report issued on Wednesday,Benzinga reports. They currently have a $20.00 price target on the stock.

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

Wabash National Trading Down 0.1%

Shares of NYSE:WNC opened at $13.29 on Wednesday. The business’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $9.92. 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 company has a market capitalization of $540.50 million, a P/E ratio of -8.31 and a beta of 1.43.

Wabash National (NYSE:WNC) last announced its quarterly earnings data 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 company 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 revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) earnings per share. On average, research analysts anticipate that Wabash National will post -1.75 EPS for the current fiscal year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd were paid a $0.08 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.32 annualized dividend and a dividend yield of 2.4%. Wabash National’s dividend payout ratio (DPR) is presently -20.00%.

Institutional Trading of Wabash National

Several institutional investors and hedge funds have recently modified their holdings of WNC. Invesco Ltd. raised its holdings in shares of Wabash National by 0.5% in the fourth quarter. Invesco Ltd. now owns 172,931 shares of the company’s stock valued at $1,496,000 after purchasing an additional 941 shares during the last quarter. Deutsche Bank AG boosted its holdings in Wabash National by 6.9% during the fourth quarter. Deutsche Bank AG now owns 31,618 shares of the company’s stock worth $273,000 after purchasing an additional 2,052 shares during the last quarter. Raymond James Financial Inc. grew its position in Wabash National by 12.6% in the 2nd quarter. Raymond James Financial Inc. now owns 18,519 shares of the company’s stock worth $197,000 after purchasing an additional 2,078 shares in the last quarter. Man Group plc increased its stake in Wabash National by 4.4% in the 3rd quarter. Man Group plc now owns 53,556 shares of the company’s stock valued at $529,000 after buying an additional 2,235 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after buying an additional 2,758 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors.

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.