Wabash National (NYSE:WNC) Trading Up 6.2% – Here’s What Happened

Wabash National Corporation (NYSE:WNC)’s stock price was up 6.2% on Friday . The stock traded as high as $13.28 and last traded at $13.3210. Approximately 758,216 shares were traded during trading, a decline of 6% from the average session volume of 807,489 shares. The stock had previously closed at $12.54.

Analyst Ratings Changes

A number of analysts have recently issued reports on WNC shares. DA Davidson raised shares of Wabash National from a “neutral” rating to a “buy” rating and increased their price target for the stock from $8.50 to $20.00 in a research report on Wednesday, June 17th. Weiss Ratings downgraded shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, Citizens Jmp assumed coverage on shares of Wabash National in a research report on Wednesday. They issued an “outperform” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.00.

Wabash National Stock Up 6.2%

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 business has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $9.72. The stock has a market cap of $541.44 million, a PE ratio of -8.32 and a beta of 1.43.

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

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be paid a $0.08 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 2.4%. Wabash National’s payout ratio is -20.00%.

Hedge Funds Weigh In On Wabash National

Hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co bought a new position in Wabash National during the fourth quarter valued at about $37,000. Quadrant Capital Group LLC grew its holdings 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 buying an additional 4,530 shares during the last quarter. CWM LLC increased its position in Wabash National by 82.6% during 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 period. BNP Paribas Financial Markets raised its holdings in Wabash National by 104.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after acquiring an additional 4,129 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in shares of Wabash National in the 3rd quarter valued at $102,000. 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.