DA Davidson Boosts Wabash National (NYSE:WNC) Price Target to $11.00

Wabash National (NYSE:WNC) had its price target lifted by stock analysts at DA Davidson from $9.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target would indicate a potential downside of 3.08% from the company’s previous close.

WNC has been the topic of a number of other reports. Zacks Research upgraded Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings cut shares of Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 26th. Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, National Bankshares set a $9.00 price objective on Wabash National in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $10.00.

Wabash National Price Performance

Shares of Wabash National stock traded up $0.20 during trading hours on Tuesday, reaching $11.35. 104,671 shares of the company’s stock were exchanged, compared to its average volume of 657,234. The company has a market capitalization of $459.90 million, a P/E ratio of 2.32 and a beta of 1.67. Wabash National has a 1 year low of $6.78 and a 1 year high of $13.50. The company has a quick ratio of 0.79, a current ratio of 1.39 and a debt-to-equity ratio of 1.21. The business has a fifty day moving average of $9.79 and a two-hundred day moving average of $9.69.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, February 4th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.16). The firm had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $318.32 million. Wabash National had a net margin of 13.71% and a negative return on equity of 22.80%. The firm’s revenue was down 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, research analysts predict that Wabash National will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Wabash National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new stake in shares of Wabash National in the 2nd quarter valued at about $32,629,000. Arrowstreet Capital Limited Partnership lifted its holdings in Wabash National by 305.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock worth $6,325,000 after purchasing an additional 482,942 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Wabash National by 864.3% during the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after purchasing an additional 411,889 shares during the period. CenterBook Partners LP boosted its stake in shares of Wabash National by 263.6% in the second quarter. CenterBook Partners LP now owns 494,457 shares of the company’s stock valued at $5,256,000 after buying an additional 358,478 shares during the period. Finally, Jane Street Group LLC raised its stake in Wabash National by 204.3% in the first quarter. Jane Street Group LLC now owns 463,191 shares of the company’s stock valued at $5,118,000 after purchasing an additional 310,998 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wabash National Company Profile

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.