Wabash National (NYSE:WNC) Given Neutral Rating at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Wabash National (NYSE:WNC) in a report published on Thursday morning,Benzinga reports. They currently have a $11.00 price objective on the stock.

Several other research firms have also recently issued reports on WNC. Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings raised Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. National Bank Financial set a $9.00 target price on Wabash National in a report on Thursday, October 23rd. Finally, Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Wabash National has an average rating of “Hold” and a consensus target price of $10.00.

Wabash National Stock Performance

NYSE:WNC opened at $11.48 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.79 and a current ratio of 1.39. Wabash National has a fifty-two week low of $6.78 and a fifty-two week high of $12.94. The firm has a market cap of $464.97 million, a PE ratio of 2.36 and a beta of 1.67. The business has a 50 day moving average price of $10.17 and a 200-day moving average price of $9.79.

Wabash National (NYSE:WNC) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $318.32 million. Wabash National had a net margin of 13.71% and a negative return on equity of 22.80%. The company’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Equities research analysts predict that Wabash National will post 0.94 earnings per share for the current year.

Wabash National Dividend Announcement

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

Institutional Trading of Wabash National

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP purchased a new position in Wabash National during the 2nd quarter valued at about $32,629,000. Goldman Sachs Group Inc. increased its stake in shares of Wabash National by 161.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after purchasing an additional 684,397 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wabash National by 305.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock valued at $6,325,000 after purchasing an additional 482,942 shares during the last quarter. Millennium Management LLC boosted its position in shares of Wabash National by 864.3% in the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after purchasing an additional 411,889 shares in the last quarter. Finally, CenterBook Partners LP boosted its position in shares of Wabash National by 263.6% in the 2nd quarter. CenterBook Partners LP now owns 494,457 shares of the company’s stock worth $5,256,000 after purchasing an additional 358,478 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.