StockNews.com Upgrades Wabash National (NYSE:WNC) to “Buy”

Wabash National (NYSE:WNC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Wabash National Price Performance

Shares of WNC stock opened at $25.36 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. Wabash National has a 12 month low of $20.09 and a 12 month high of $30.07. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 5.27 and a beta of 1.58. The stock has a 50-day moving average price of $27.40 and a 200 day moving average price of $24.81.

Wabash National (NYSE:WNC) last issued its earnings results on Thursday, February 1st. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. The firm had revenue of $596.10 million for the quarter, compared to analysts’ expectations of $633.68 million. During the same quarter last year, the business earned $0.84 earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year. Research analysts expect that Wabash National will post 2.19 EPS for the current year.

Insider Activity

In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry J. Magee sold 3,086 shares of Wabash National stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the transaction, the director now owns 114,146 shares in the company, valued at approximately $3,024,869. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wabash National

A number of hedge funds and other institutional investors have recently bought and sold shares of WNC. Raymond James & Associates raised its position in Wabash National by 4.2% in the 1st quarter. Raymond James & Associates now owns 39,348 shares of the company’s stock valued at $584,000 after buying an additional 1,595 shares during the last quarter. Citigroup Inc. raised its position in Wabash National by 6.3% in the 1st quarter. Citigroup Inc. now owns 44,274 shares of the company’s stock valued at $657,000 after buying an additional 2,628 shares during the last quarter. MetLife Investment Management LLC raised its position in Wabash National by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 26,736 shares of the company’s stock valued at $397,000 after buying an additional 9,533 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Wabash National by 12.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,203 shares of the company’s stock valued at $626,000 after buying an additional 4,808 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in Wabash National in the 1st quarter valued at approximately $403,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.