Wabash National (NYSE:WNC) Reaches New 52-Week High – Should You Buy?

Wabash National Corporation (NYSE:WNC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.27 and last traded at $13.42, with a volume of 78999 shares changing hands. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, DA Davidson raised shares of Wabash National from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $20.00 in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Wabash National currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Wabash National Stock Up 5.5%

The firm has a market cap of $540.76 million, a price-to-earnings ratio of -8.34 and a beta of 1.55. The firm has a 50-day moving average of $8.49 and a two-hundred day moving average of $9.27. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.16). The company had revenue of $303.23 million during the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The company’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.58) EPS. As a group, sell-side analysts predict that Wabash National Corporation will post -1.75 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be given a $0.08 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Wabash National’s dividend payout ratio (DPR) is currently -20.00%.

Institutional Trading of Wabash National

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Wabash National by 93.9% during the first quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock valued at $339,000 after acquiring an additional 14,912 shares during the period. AQR Capital Management LLC lifted its holdings in Wabash National by 59.1% during the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock valued at $2,483,000 after purchasing an additional 83,473 shares during the last quarter. Millennium Management LLC boosted its position in Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock valued at $5,078,000 after buying an additional 411,889 shares in the last quarter. Caxton Associates LLP bought a new stake in Wabash National during the first quarter worth about $166,000. Finally, Empowered Funds LLC increased its holdings in shares of Wabash National by 4.2% during the first quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock worth $2,237,000 after buying an additional 8,205 shares in the last quarter. 97.05% of the stock is currently owned by institutional investors and hedge funds.

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.