Wabash National Corp. (WNC) Rating Lowered to Hold at Zacks Investment Research
Wabash National Corp. (NYSE:WNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Several other brokerages have also recently commented on WNC. Credit Agricole SA assumed coverage on shares of Wabash National Corp. in a research note on Friday, September 30th. They set an “underperform” rating and a $15.00 price objective for the company. Stifel Nicolaus cut shares of Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.67.
Shares of Wabash National Corp. (NYSE:WNC) opened at 13.97 on Tuesday. The stock has a market capitalization of $892.93 million, a PE ratio of 7.31 and a beta of 2.09. Wabash National Corp. has a one year low of $9.68 and a one year high of $14.97. The firm’s 50-day moving average is $13.88 and its 200-day moving average is $13.54.
Wabash National Corp. (NYSE:WNC) last released its earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. The company earned $471.44 million during the quarter, compared to analysts’ expectations of $490.19 million. Wabash National Corp. had a net margin of 6.43% and a return on equity of 28.98%. Wabash National Corp.’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, analysts expect that Wabash National Corp. will post $1.86 earnings per share for the current fiscal year.
In other Wabash National Corp. news, SVP Erin Jennifer Roth sold 7,500 shares of Wabash National Corp. stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $14.50, for a total transaction of $108,750.00. Following the completion of the sale, the senior vice president now directly owns 87,520 shares in the company, valued at approximately $1,269,040. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WNC. HBK Investments L P acquired a new stake in shares of Wabash National Corp. during the first quarter valued at approximately $235,000. Mariner Wealth Advisors LLC raised its position in Wabash National Corp. by 55.6% in the first quarter. Mariner Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $924,000 after buying an additional 25,000 shares during the period. Goldman Sachs Group Inc. raised its position in Wabash National Corp. by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 921,737 shares of the company’s stock valued at $12,167,000 after buying an additional 20,134 shares during the period. UBS Group AG raised its position in Wabash National Corp. by 1.8% in the first quarter. UBS Group AG now owns 201,913 shares of the company’s stock valued at $2,666,000 after buying an additional 3,564 shares during the period. Finally, Spark Investment Management LLC purchased a new position in Wabash National Corp. during the first quarter valued at $3,934,000.
Wabash National Corp. Company Profile
Wabash National Corporation is engaged in designing, manufacturing and marketing standard and customized truck and tank trailers, intermodal equipment and transportation related products. The Company’s segments include Commercial Trailer Products, Diversified Products, Retail, and Corporate and Eliminations.
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