Wabash National’s (WNC) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Wabash National (NYSE:WNC) in a report published on Tuesday morning,Benzinga reports. DA Davidson currently has a $20.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Citizens Jmp initiated coverage on Wabash National in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price for the company. National Bank Financial set a $20.00 price target on Wabash National in a research note on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Wabash National in a research report on Wednesday, August 12th. Two equities research 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, the company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Wabash National Stock Performance

WNC stock opened at $11.72 on Tuesday. The company has a market capitalization of $477.35 million, a P/E ratio of -6.07 and a beta of 1.45. The company has a 50-day simple moving average of $12.75 and a 200 day simple moving average of $10.56. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.47. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.03. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The firm had revenue of $417.24 million for the quarter, compared to analysts’ expectations of $402.85 million. During the same quarter last year, the company earned ($0.15) EPS. Wabash National’s quarterly revenue was down 9.1% on a year-over-year basis. Sell-side analysts predict that Wabash National will post -2.41 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, October 8th. Wabash National’s payout ratio is presently -16.58%.

Institutional Trading of Wabash National

Large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its holdings in shares of Wabash National by 36.9% in the second quarter. Squarepoint Ops LLC now owns 20,647 shares of the company’s stock valued at $279,000 after buying an additional 5,569 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Wabash National during the second quarter worth $337,000. Empowered Funds LLC purchased a new stake in shares of Wabash National during the second quarter valued at $1,999,000. Jefferies Financial Group Inc. purchased a new stake in shares of Wabash National during the second quarter valued at $1,038,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Wabash National in the 2nd quarter valued at $998,000. 97.05% of the stock is currently owned by institutional investors.

About Wabash National

Wabash National Corporation (NYSE:WNC) is a manufacturer of transportation and logistics equipment based in Lafayette, Indiana. Founded in 1985, the company serves customers across North America, including trucking fleets, freight carriers, food and beverage companies, retailers, and industrial businesses.

Its products include dry van trailers, refrigerated trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also manufactures composite panels and other structural components used in transportation and related applications.

In addition to original equipment, Wabash provides aftermarket parts, repair, maintenance, and related services through its distribution and service operations.