Wabash National (WNC) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Wabash National (NYSE:WNC) from a hold rating to a buy rating in a research report released on Friday. They currently have $24.00 price target on the stock.

According to Zacks, “Wabash National Corporation is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, and intermodal equipment. Its innovative core products are sold under the DuraPlate, ArcticLite, and Eagle brand names. The company operates two wholly owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed and drop deck trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and aftermarket parts throughout the U.S. and Canada. “

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Other equities research analysts have also issued research reports about the company. Stifel Nicolaus reaffirmed a hold rating on shares of Wabash National in a report on Friday, December 22nd. ValuEngine lowered Wabash National from a buy rating to a hold rating in a report on Wednesday, March 7th. BMO Capital Markets lifted their price objective on Wabash National to $24.00 and gave the company a market perform rating in a report on Friday, February 2nd. Seaport Global Securities reaffirmed a neutral rating on shares of Wabash National in a report on Tuesday, January 16th. Finally, OTR Global raised Wabash National to a positive rating in a report on Thursday, March 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Wabash National has a consensus rating of Hold and a consensus target price of $25.80.

Shares of Wabash National stock opened at $21.90 on Friday. Wabash National has a twelve month low of $18.25 and a twelve month high of $26.54. The firm has a market capitalization of $1,262.54, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.03 and a quick ratio of 1.39.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. Wabash National had a return on equity of 17.69% and a net margin of 6.31%. The company had revenue of $543.40 million for the quarter, compared to analyst estimates of $517.96 million. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. equities research analysts forecast that Wabash National will post 1.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Wednesday, April 4th. Wabash National’s dividend payout ratio (DPR) is 16.85%.

In other news, CEO Richard J. Giromini sold 58,300 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $25.04, for a total transaction of $1,459,832.00. Following the sale, the chief executive officer now owns 803,680 shares of the company’s stock, valued at approximately $20,124,147.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Meadow Creek Investment Management LLC boosted its stake in shares of Wabash National by 32.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 9,758 shares of the company’s stock worth $212,000 after acquiring an additional 2,380 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Wabash National during the 3rd quarter worth approximately $326,000. Yorktown Management & Research Co Inc boosted its stake in shares of Wabash National by 21.7% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 14,600 shares of the company’s stock worth $333,000 after acquiring an additional 2,600 shares in the last quarter. ETRADE Capital Management LLC boosted its stake in shares of Wabash National by 25.1% during the 3rd quarter. ETRADE Capital Management LLC now owns 14,622 shares of the company’s stock worth $334,000 after acquiring an additional 2,930 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of Wabash National during the 4th quarter worth approximately $373,000.

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About Wabash National

Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.

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