Wabash National (NYSE:WNC) Trading 8.1% Higher – Should You Buy?

Wabash National Corporation (NYSE:WNC)’s stock price was up 8.1% during trading on Wednesday . The company traded as high as $13.85 and last traded at $13.8070. 332,748 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 835,858 shares. The stock had previously closed at $12.77.

Wall Street Analysts Forecast Growth

WNC has been the subject of a number of recent research reports. Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. National Bank Financial set a $20.00 target price on shares of Wabash National in a report on Wednesday, August 12th. DA Davidson reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Wabash National in a research report on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Finally, Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Wabash National presently has a consensus rating of “Hold” and an average price target of $21.67.

Wabash National Stock Up 8.8%

The business’s fifty day moving average price is $12.86 and its two-hundred day moving average price is $10.32. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a market capitalization of $565.84 million, a PE ratio of -7.15 and a beta of 1.44.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. The company had revenue of $417.24 million during the quarter, compared to analyst estimates of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. Wabash National’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Wabash National Corporation will post -2.41 EPS for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.3%. Wabash National’s dividend payout ratio (DPR) is -16.58%.

Institutional Investors Weigh In On Wabash National

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Wabash National by 246.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,398 shares of the company’s stock worth $100,000 after purchasing an additional 5,264 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Wabash National in the 2nd quarter valued at approximately $337,000. Empowered Funds LLC acquired a new position in shares of Wabash National in the 2nd quarter valued at $1,999,000. Jefferies Financial Group Inc. acquired a new position in Wabash National in the second quarter valued at about $1,038,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Wabash National during the second quarter worth $998,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

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.