Wabash National (NYSE:WNC) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Wabash National (NYSE:WNC) from a buy rating to a hold rating in a research note released on Friday morning.

Wabash National Price Performance

Shares of NYSE WNC opened at $24.05 on Friday. Wabash National has a fifty-two week low of $20.09 and a fifty-two week high of $30.07. The firm’s 50-day simple moving average is $27.21 and its 200 day simple moving average is $24.99. The company has a quick ratio of 1.11, a current ratio of 1.87 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.08 billion, a P/E ratio of 5.78 and a beta of 1.58.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Wabash National had a net margin of 8.15% and a return on equity of 37.84%. The company had revenue of $515.28 million for the quarter. Equities analysts expect that Wabash National will post 2.19 EPS for the current year.

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, April 4th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, April 3rd. Wabash National’s dividend payout ratio is currently 7.69%.

Insiders Place Their Bets

In other Wabash National news, Director Larry J. Magee sold 3,086 shares of the business’s 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 sale, the director now directly owns 114,146 shares in the company, valued at $3,024,869. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Wabash National news, Director Larry J. Magee sold 3,086 shares of the business’s 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 sale, the director now directly owns 114,146 shares in the company, valued at $3,024,869. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Priyadarshi Sudhanshu sold 1,010 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the completion of the sale, the director now owns 6,386 shares in the company, valued at $172,805.16. The disclosure for this sale can be found here. 1.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wabash National

A number of institutional investors have recently bought and sold shares of WNC. Pacer Advisors Inc. purchased a new position in Wabash National in the 4th quarter worth about $35,491,000. Wasatch Advisors LP increased its stake in Wabash National by 66.9% in the 1st quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock worth $41,340,000 after purchasing an additional 553,500 shares in the last quarter. Clearbridge Investments LLC increased its stake in Wabash National by 383.5% in the 4th quarter. Clearbridge Investments LLC now owns 513,784 shares of the company’s stock worth $13,163,000 after purchasing an additional 407,518 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in Wabash National in the 3rd quarter worth about $3,017,000. Finally, Winmill & CO. Inc. increased its stake in Wabash National by 78.4% in the 3rd quarter. Winmill & CO. Inc. now owns 303,349 shares of the company’s stock worth $6,407,000 after purchasing an additional 133,349 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

About Wabash National

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.