Wabash National (NYSE:WNC) Price Target Raised to $11.00 at DA Davidson

Wabash National (NYSE:WNC) had its target price lifted by equities researchers at DA Davidson from $9.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential downside of 3.08% from the stock’s previous close.

Several other analysts also recently weighed in on WNC. National Bankshares set a $9.00 price objective on shares of Wabash National in a research report on Thursday, October 23rd. Weiss Ratings lowered shares of Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 26th. Zacks Research raised Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen upgraded shares of Wabash National from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $10.00.

Wabash National Stock Up 1.8%

NYSE:WNC traded up $0.20 during mid-day trading on Tuesday, hitting $11.35. 104,671 shares of the company’s stock were exchanged, compared to its average volume of 657,234. The business has a fifty day moving average price of $9.79 and a 200 day moving average price of $9.69. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.39 and a quick ratio of 0.79. Wabash National has a one year low of $6.78 and a one year high of $13.50. The company has a market cap of $459.90 million, a PE ratio of 2.32 and a beta of 1.67.

Wabash National (NYSE:WNC) last announced its earnings results on Wednesday, February 4th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.16). The firm had revenue of $321.45 million during the quarter, compared to the consensus estimate of $318.32 million. Wabash National had a negative return on equity of 22.80% and a net margin of 13.71%.The business’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Equities analysts predict that Wabash National will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Wabash National

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in shares of Wabash National by 55.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company’s stock valued at $39,000 after buying an additional 1,331 shares in the last quarter. CWM LLC increased its stake in Wabash National by 82.6% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Wabash National during the 3rd quarter worth about $73,000. BNP Paribas Financial Markets grew its position in Wabash National by 104.4% in the third quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after purchasing an additional 4,129 shares in the last quarter. Finally, World Investment Advisors acquired a new position in Wabash National during the fourth quarter valued at approximately $91,000. 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.