Wabash National (NYSE:WNC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Wabash National Corporation (NYSE:WNC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.80 and traded as high as $10.01. Wabash National shares last traded at $9.8850, with a volume of 1,018,547 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WNC. Wall Street Zen downgraded shares of Wabash National from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Zacks Research raised Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. DA Davidson restated a “neutral” rating and issued a $11.00 price target on shares of Wabash National in a research note on Thursday, February 19th. Finally, Weiss Ratings cut Wabash National from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $10.00.

Wabash National Price Performance

The firm has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $9.79. The stock has a market capitalization of $400.76 million, a P/E ratio of 2.03 and a beta of 1.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 1.39.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, February 4th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.16). Wabash National had a negative return on equity of 22.79% and a net margin of 13.71%.The firm had revenue of $321.45 million during the quarter, compared to the consensus estimate of $318.32 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue was down 22.9% on a year-over-year basis. As a group, analysts expect that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. Wabash National’s dividend payout ratio (DPR) is presently 6.57%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WNC. First Trust Advisors LP bought a new stake in shares of Wabash National during the 2nd quarter valued at $32,629,000. Goldman Sachs Group Inc. grew its holdings in Wabash National by 161.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after purchasing an additional 684,397 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Wabash National by 305.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 640,850 shares of the company’s stock valued at $6,325,000 after purchasing an additional 482,942 shares during the period. Millennium Management LLC raised its stake in shares of Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after buying an additional 411,889 shares during the period. Finally, CenterBook Partners LP lifted its position in shares of Wabash National by 263.6% during the 2nd 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 in the last quarter. 97.05% of the stock is currently owned by institutional investors.

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.