Wabash National (WNC) Shares Gap Down After Analyst Downgrade

Wabash National Co. (NYSE:WNC) gapped down before the market opened on Monday after ValuEngine downgraded the stock from a sell rating to a strong sell rating. The stock had previously closed at $14.11, but opened at $13.56. Wabash National shares last traded at $14.68, with a volume of 59306 shares.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus decreased their price target on Wabash National from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, August 2nd. BMO Capital Markets reissued a “hold” rating and set a $25.00 price target on shares of Wabash National in a research note on Thursday, July 19th. Zacks Investment Research lowered Wabash National from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Loop Capital began coverage on Wabash National in a research note on Monday, October 1st. They set a “buy” rating and a $27.00 price target for the company. Finally, Mizuho began coverage on Wabash National in a research report on Thursday, June 28th. They set a “neutral” rating and a $24.00 target price for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.13.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Wabash National by 7.3% during the 2nd quarter. BlackRock Inc. now owns 8,113,463 shares of the company’s stock valued at $151,396,000 after purchasing an additional 548,706 shares in the last quarter. Scopus Asset Management L.P. raised its position in Wabash National by 20.7% during the 2nd quarter. Scopus Asset Management L.P. now owns 368,709 shares of the company’s stock valued at $6,880,000 after purchasing an additional 63,145 shares in the last quarter. FTB Advisors Inc. raised its position in Wabash National by 6,098.3% during the 2nd quarter. FTB Advisors Inc. now owns 15,000 shares of the company’s stock valued at $280,000 after purchasing an additional 14,758 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Wabash National by 39.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,488 shares of the company’s stock valued at $270,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Wabash National by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 142,235 shares of the company’s stock valued at $2,654,000 after purchasing an additional 3,108 shares in the last quarter.

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.96 and a quick ratio of 1.20. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 0.33 and a beta of 1.79.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.08). Wabash National had a net margin of 5.86% and a return on equity of 17.85%. The company had revenue of $612.69 million during the quarter, compared to analysts’ expectations of $611.30 million. Equities analysts predict that Wabash National Co. will post 1.96 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Thursday, October 4th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, October 3rd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.03%. Wabash National’s dividend payout ratio is presently 21.74%.

About Wabash National (NYSE:WNC)

Wabash National Corporation manufactures and sells semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. The company's Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and trailers; aftermarket parts and services; and used trailers.

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