Wabash National (NYSE:WNC) Shares Gap Down Following Weak Earnings

Wabash National Co. (NYSE:WNC) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.75, but opened at $24.50. Wabash National shares last traded at $25.08, with a volume of 117,582 shares.

The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The business had revenue of $515.28 million for the quarter. Wabash National had a return on equity of 37.84% and a net margin of 8.15%.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, April 4th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.33%. The ex-dividend date was Wednesday, April 3rd. Wabash National’s payout ratio is presently 7.69%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Wabash National from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

Insider Buying and Selling

In other Wabash National news, Director Larry J. Magee sold 3,086 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total value of $81,779.00. Following the transaction, the director now owns 114,146 shares in the company, valued at approximately $3,024,869. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Larry J. Magee sold 3,086 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total transaction of $81,779.00. Following the completion of the sale, the director now owns 114,146 shares of the company’s stock, valued at approximately $3,024,869. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Priyadarshi Sudhanshu sold 1,010 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the completion of the transaction, the director now directly owns 6,386 shares in the company, valued at $172,805.16. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

Institutional Trading of Wabash National

Several large investors have recently added to or reduced their stakes in WNC. Gladius Capital Management LP acquired a new position in shares of Wabash National during the 4th quarter valued at about $36,000. Quadrant Capital Group LLC raised its stake in Wabash National by 61.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $38,000 after purchasing an additional 565 shares during the period. Tradewinds Capital Management LLC acquired a new position in Wabash National in the 1st quarter valued at about $48,000. EMC Capital Management purchased a new stake in shares of Wabash National in the 3rd quarter valued at approximately $129,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Wabash National by 124.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,365 shares of the company’s stock valued at $200,000 after buying an additional 5,192 shares during the period. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Price Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 5.77 and a beta of 1.58. The stock’s fifty day moving average price is $27.29 and its 200-day moving average price is $24.91. The company has a current ratio of 1.87, a quick ratio of 1.17 and a debt-to-equity ratio of 0.73.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.