Wabash National (NYSE:WNC) Stock Rating Upgraded by DA Davidson

Wabash National (NYSE:WNC) was upgraded by DA Davidson from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Citizens Jmp initiated coverage on shares of Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of Wabash National in a research note on Tuesday, October 20th. National Bank Financial set a $25.00 price target on shares of Wabash National in a report on Tuesday, October 20th. Finally, Weiss Ratings raised shares of Wabash National from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Wabash National Stock Performance

NYSE:WNC opened at $11.77 on Monday. The stock’s fifty day moving average is $12.89 and its 200 day moving average is $10.89. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.55. The firm has a market capitalization of $479.64 million, a PE ratio of -3.45 and a beta of 1.48. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.17). The company had revenue of $476.41 million during the quarter, compared to the consensus estimate of $453.74 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 up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.51) earnings per share. On average, sell-side analysts anticipate that Wabash National will post -2.41 earnings per share for the current year.

Institutional Investors Weigh In On Wabash National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WNC. Inspire Investing LLC boosted its position in Wabash National by 1.8% in the 3rd quarter. Inspire Investing LLC now owns 51,725 shares of the company’s stock valued at $638,000 after buying an additional 904 shares during the period. Womack Financial LLC grew its stake in Wabash National by 0.4% in the 3rd quarter. Womack Financial LLC now owns 250,662 shares of the company’s stock worth $3,091,000 after acquiring an additional 1,105 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Wabash National by 542.2% during the third quarter. Farther Finance Advisors LLC now owns 2,254 shares of the company’s stock worth $28,000 after acquiring an additional 1,903 shares during the period. Fortitude Family Office LLC increased its position in shares of Wabash National by 2,359.3% during the third quarter. Fortitude Family Office LLC now owns 3,320 shares of the company’s stock worth $41,000 after acquiring an additional 3,185 shares during the period. Finally, Allworth Financial LP purchased a new position in shares of Wabash National during the second quarter worth approximately $45,000. Institutional investors own 97.05% of the company’s stock.

About Wabash National

Wabash National Corporation is a transportation equipment and logistics solutions manufacturer headquartered in Lafayette, Indiana. The company designs and produces equipment used to move freight across North America, serving trucking, transportation, distribution, and logistics customers.

Its product portfolio includes dry and refrigerated van trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also provides related parts, services, and technologies intended to support trailer maintenance, fleet operations, and supply-chain efficiency.