ValuEngine Downgrades Wabash National (NYSE:WNC) to Strong Sell

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Wabash National (NYSE:WNC) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Monday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Craig Hallum downgraded Wabash National from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a report on Wednesday, July 31st. BMO Capital Markets set a $14.00 target price on Wabash National and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research downgraded Wabash National from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.67.

Shares of WNC traded up $0.22 during mid-day trading on Monday, reaching $14.68. 344,670 shares of the company were exchanged, compared to its average volume of 413,280. Wabash National has a 52 week low of $12.25 and a 52 week high of $16.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.09 and a current ratio of 1.92. The stock has a market capitalization of $792.89 million, a PE ratio of 10.19 and a beta of 2.06. The business has a 50 day simple moving average of $14.18 and a two-hundred day simple moving average of $14.67.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. The business had revenue of $626.05 million during the quarter, compared to the consensus estimate of $613.36 million. Wabash National had a return on equity of 17.36% and a net margin of 2.67%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, analysts predict that Wabash National will post 1.7 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Wabash National by 1.9% in the second quarter. BlackRock Inc. now owns 8,373,808 shares of the company’s stock worth $136,243,000 after purchasing an additional 154,987 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Wabash National by 23.5% during the second quarter. JPMorgan Chase & Co. now owns 3,844,219 shares of the company’s stock valued at $61,815,000 after acquiring an additional 732,452 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Wabash National by 110.8% during the second quarter. Prudential Financial Inc. now owns 1,096,533 shares of the company’s stock valued at $17,841,000 after acquiring an additional 576,463 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wabash National by 58.6% during the second quarter. Renaissance Technologies LLC now owns 1,060,200 shares of the company’s stock valued at $17,249,000 after acquiring an additional 391,900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Wabash National by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 1,037,465 shares of the company’s stock valued at $16,881,000 after acquiring an additional 47,048 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Wabash National Company Profile

Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Wabash National (NYSE:WNC)

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