Wabash National (NYSE:WNC) Stock Breaks Above 200-Day Moving Average – Here’s Why

Wabash National Corporation (NYSE:WNC)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $11.03 and traded as high as $13.23. Wabash National shares last traded at $12.9380, with a volume of 488,617 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price objective on the stock. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Wabash National in a report on Tuesday, September 22nd. National Bank Financial set a $20.00 price target on shares of Wabash National in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.67.

Wabash National Trading Down 3.1%

The stock has a market capitalization of $505.95 million, a P/E ratio of -6.44 and a beta of 1.48. The stock’s fifty day moving average price is $12.82 and its two-hundred day moving average price is $11.06. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 1.75.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.03. The company had revenue of $417.24 million for the quarter, compared to analyst estimates of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) EPS. Equities research analysts forecast that Wabash National Corporation will post -2.41 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National’s payout ratio is -16.58%.

Institutional Investors Weigh In On Wabash National

Several institutional investors have recently bought and sold shares of WNC. BlackRock Inc. purchased a new position in Wabash National in the 2nd quarter worth approximately $47,125,000. Dimensional Fund Advisors LP boosted 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 valued at $14,291,000 after purchasing an additional 247,345 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Wabash National during the second quarter valued at approximately $9,812,434. Bank of New York Mellon Corp purchased a new stake in shares of Wabash National during the second quarter valued at approximately $6,151,000. Finally, Empowered Funds LLC grew its holdings in shares of Wabash National by 40.1% in the first quarter. Empowered Funds LLC now owns 589,884 shares of the company’s stock worth $5,085,000 after purchasing an additional 168,929 shares during the last quarter. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Company Profile

Wabash National Corporation (NYSE: WNC) is a North American manufacturer of transportation equipment and related products. The company designs and produces equipment used to move freight across highways, including dry van trailers, refrigerated trailers, platform trailers, tank trailers and truck-mounted tanks.

Wabash National also manufactures composite panels, flooring systems and other structural components used in trailers and truck bodies. Its products incorporate technologies such as the DuraPlate composite system, which is designed to provide durable, lightweight trailer construction.