Wabash National (NYSE:WNC) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Wabash National (NYSE:WNC) from a hold rating to a strong sell rating in a report published on Saturday morning.

WNC has been the subject of a number of other research reports. DA Davidson reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Wabash National in a research report on Thursday. Zacks Research raised Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings raised Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Wabash National currently has an average rating of “Hold” and a consensus target price of $10.00.

Wabash National Trading Up 1.1%

Wabash National stock opened at $11.60 on Friday. Wabash National has a one year low of $6.78 and a one year high of $12.94. The business’s fifty day moving average is $10.21 and its 200 day moving average is $9.80. The stock has a market capitalization of $469.23 million, a PE ratio of 2.38 and a beta of 1.67. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.39 and a quick ratio of 0.79.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, February 4th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.16). The business had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $318.32 million. Wabash National had a negative return on equity of 22.79% and a net margin of 13.71%.Wabash National’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. On average, sell-side analysts predict that Wabash National will post 0.94 EPS for the current year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, April 2nd. Wabash National’s payout ratio is currently 6.57%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Wabash National by 0.5% in the 4th quarter. Invesco Ltd. now owns 172,931 shares of the company’s stock worth $1,496,000 after acquiring an additional 941 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Wabash National in the fourth quarter worth approximately $111,000. Empowered Funds LLC increased its stake in shares of Wabash National by 15.8% in the fourth quarter. Empowered Funds LLC now owns 420,955 shares of the company’s stock worth $3,641,000 after purchasing an additional 57,553 shares in the last quarter. XTX Topco Ltd raised its position in shares of Wabash National by 172.1% during the 4th quarter. XTX Topco Ltd now owns 34,508 shares of the company’s stock valued at $298,000 after purchasing an additional 21,826 shares during the period. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Wabash National by 103.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 68,809 shares of the company’s stock valued at $595,000 after buying an additional 35,022 shares in the last quarter. 97.05% of the stock is owned by hedge funds and other 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.