Wabash National (NYSE:WNC) Trading 6.2% Higher – What’s Next?

Wabash National Corporation (NYSE:WNC) shares traded up 6.2% during trading on Friday . The stock traded as high as $13.28 and last traded at $13.3210. Approximately 758,216 shares were traded during trading, a decline of 6% from the average daily volume of 807,489 shares. The stock had previously closed at $12.54.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WNC shares. Wall Street Zen cut Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. DA Davidson upgraded Wabash National from a “neutral” rating to a “buy” rating and raised their target price for the company from $8.50 to $20.00 in a report on Wednesday, June 17th. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Finally, Citizens Jmp began coverage on shares of Wabash National in a research note on Wednesday. They set an “outperform” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wabash National presently has a consensus rating of “Hold” and an average price target of $18.00.

Wabash National Price Performance

The company’s 50-day simple moving average is $10.09 and its 200 day simple moving average is $9.75. The company has a market cap of $545.47 million, a PE ratio of -8.38 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.77 and a current ratio of 1.33.

Wabash National (NYSE:WNC) last posted its quarterly earnings data on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). The company had revenue of $303.23 million for the quarter, compared to analysts’ expectations of $319.03 million. Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The firm’s revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.58) EPS. On average, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, July 2nd. Wabash National’s payout ratio is presently -20.00%.

Institutional Investors Weigh In On Wabash National

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after buying an additional 36,226 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Wabash National by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock worth $14,291,000 after buying an additional 247,345 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Wabash National by 17.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock worth $13,394,000 after buying an additional 233,979 shares during the period. Ameriprise Financial Inc. raised its holdings in Wabash National by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock valued at $15,367,000 after acquiring an additional 59,054 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Wabash National by 161.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after acquiring an additional 684,397 shares in the last quarter. Institutional investors and hedge funds own 97.05% of the company’s stock.

About Wabash National

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.