Wabash National’s (WNC) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Wabash National (NYSE:WNC) in a report issued on Monday,Benzinga reports. They currently have a $20.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wabash National in a research report on Wednesday, August 12th. National Bank Financial set a $20.00 price objective on Wabash National in a report on Wednesday, August 12th. Finally, Citizens Jmp assumed coverage on Wabash National in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.67.

Wabash National Price Performance

Shares of Wabash National stock opened at $12.48 on Monday. Wabash National has a twelve month low of $6.63 and a twelve month high of $14.32. The stock has a market capitalization of $508.44 million, a P/E ratio of -6.47 and a beta of 1.44. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 1.75. The business’s fifty day moving average price is $12.75 and its 200 day moving average price is $10.27.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.03. The firm had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) earnings per share. As a group, research analysts anticipate that Wabash National will post -2.41 earnings per share for the current year.

Wabash National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, October 8th. Wabash National’s dividend payout ratio is -16.58%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WNC. Sei Investments Co. lifted its stake in Wabash National by 46.4% during the first quarter. Sei Investments Co. now owns 456,328 shares of the company’s stock worth $3,934,000 after purchasing an additional 144,711 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wabash National by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock worth $14,291,000 after purchasing an additional 247,345 shares during the period. Empowered Funds LLC increased its stake in Wabash National by 40.1% during the first quarter. Empowered Funds LLC now owns 589,884 shares of the company’s stock valued at $5,085,000 after purchasing an additional 168,929 shares during the last quarter. Heartland Advisors Inc. bought a new stake in Wabash National during the second quarter valued at $4,001,000. Finally, Islay Capital Management LLC bought a new stake in Wabash National during the fourth quarter valued at $851,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wabash National Company Profile

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.