Wabash National (NYSE:WNC) Reaches New 1-Year Low on Analyst Downgrade

Wabash National Co. (NYSE:WNC) hit a new 52-week low on Monday after Raymond James lowered their price target on the stock from $19.00 to $17.00. Raymond James currently has a strong-buy rating on the stock. Wabash National traded as low as $11.94 and last traded at $11.98, with a volume of 2458 shares. The stock had previously closed at $12.28.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Wabash National from a “hold” rating to a “sell” rating in a report on Saturday, December 7th. BMO Capital Markets set a $14.00 price target on Wabash National and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, ValuEngine upgraded Wabash National from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.20.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its holdings in shares of Wabash National by 87.3% in the 4th quarter. New York State Teachers Retirement System now owns 74,146 shares of the company’s stock valued at $1,089,000 after acquiring an additional 34,549 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Wabash National in the 4th quarter valued at about $413,000. Alpha Windward LLC increased its holdings in shares of Wabash National by 5.8% in the 4th quarter. Alpha Windward LLC now owns 31,860 shares of the company’s stock valued at $468,000 after acquiring an additional 1,740 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Wabash National by 5.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 17,882 shares of the company’s stock valued at $259,000 after acquiring an additional 949 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Wabash National by 137.7% in the 3rd quarter. Millennium Management LLC now owns 91,030 shares of the company’s stock valued at $1,320,000 after acquiring an additional 52,729 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

The firm has a market cap of $664.26 million, a PE ratio of 7.96 and a beta of 2.12. The company has a current ratio of 1.91, a quick ratio of 1.07 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average price of $14.44 and a 200 day moving average price of $14.66.

Wabash National (NYSE:WNC) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $581.00 million for the quarter, compared to the consensus estimate of $585.03 million. Wabash National had a return on equity of 18.87% and a net margin of 3.52%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. On average, research analysts expect that Wabash National Co. will post 1.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 2nd were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.68%. Wabash National’s dividend payout ratio (DPR) is presently 22.22%.

Wabash National Company Profile (NYSE:WNC)

Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.

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