Wabash National (NYSE:WNC) Announces Quarterly Earnings Results

Wabash National (NYSE:WNC) issued its quarterly earnings data on Wednesday. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06), reports. Wabash National had a return on equity of 37.84% and a net margin of 8.15%. The business had revenue of $515.28 million for the quarter. Wabash National updated its FY24 guidance to $2.00-$2.50 EPS and its FY 2024 guidance to 2.000-2.500 EPS.

Wabash National Stock Up 2.5 %

NYSE:WNC opened at $24.61 on Friday. The company has a market cap of $1.11 billion, a PE ratio of 5.92 and a beta of 1.58. The stock has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $24.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.17 and a current ratio of 1.87. Wabash National has a 52-week low of $20.09 and a 52-week high of $30.07.

Wabash National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, April 4th were issued a $0.08 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.30%. Wabash National’s dividend payout ratio (DPR) is 7.69%.

Insider Buying and Selling at Wabash National

In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the sale, the director now directly owns 6,386 shares in the company, valued at $172,805.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total transaction of $27,330.60. Following the completion of the transaction, the director now directly owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Larry J. Magee sold 3,086 shares of Wabash National stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the completion of the sale, the director now directly owns 114,146 shares in the company, valued at approximately $3,024,869. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Wabash National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of Wabash National in the 3rd quarter valued at about $1,595,000. AQR Capital Management LLC grew its holdings in Wabash National by 12.7% during the third quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock worth $11,559,000 after purchasing an additional 61,887 shares during the period. American Century Companies Inc. increased its position in Wabash National by 99.0% during the third quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock worth $5,582,000 after buying an additional 131,512 shares during the last quarter. Quantbot Technologies LP raised its stake in Wabash National by 143.4% in the third quarter. Quantbot Technologies LP now owns 38,185 shares of the company’s stock valued at $806,000 after buying an additional 22,495 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wabash National by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company’s stock valued at $12,525,000 after buying an additional 49,443 shares during the last quarter. 97.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Wabash National from a “buy” rating to a “hold” rating in a research note on Friday.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.