Wabash National (NYSE:WNC) Reaches New 12-Month High – Still a Buy?

Wabash National Corporation (NYSE:WNC) hit a new 52-week high during trading on Thursday . The company traded as high as $14.42 and last traded at $13.3780, with a volume of 23816 shares. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WNC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wabash National in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Citizens Jmp started coverage on shares of Wabash National in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective on the stock. DA Davidson reiterated a “buy” rating and issued a $20.00 target price on shares of Wabash National in a research report on Monday, August 24th. Finally, National Bank Financial set a $20.00 target price on shares of Wabash National in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.67.

Wabash National Trading Up 0.6%

The company has a 50 day moving average of $12.90 and a 200 day moving average of $10.38. The firm has a market cap of $584.62 million, a P/E ratio of -7.44 and a beta of 1.45. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.03. The firm had revenue of $417.24 million for the quarter, compared to analyst estimates of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) earnings per share. Analysts predict that Wabash National Corporation will post -2.41 EPS for the current fiscal year.

Wabash National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National’s payout ratio is presently -16.58%.

Hedge Funds Weigh In On Wabash National

Several hedge funds have recently bought and sold shares of WNC. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Wabash National in the fourth quarter worth about $37,000. Allworth Financial LP bought a new position in shares of Wabash National in the 2nd quarter valued at approximately $45,000. Quadrant Capital Group LLC raised its stake in shares of 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. Legal & General Group Plc acquired a new stake in Wabash National in the 2nd quarter worth approximately $52,000. Finally, CWM LLC lifted its holdings in Wabash National by 82.6% in the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after purchasing an additional 2,758 shares during the last quarter. 97.05% of the stock is owned by institutional investors and hedge funds.

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.