Wabash National (NYSE:WNC) Upgraded by DA Davidson to “Buy” Rating

Wabash National (NYSE:WNC) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Wabash National from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Weiss Ratings cut shares of Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.75.

Wabash National Trading Down 2.0%

Wabash National stock opened at $9.28 on Wednesday. The firm’s 50-day moving average is $8.22 and its 200-day moving average is $9.17. 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 has a 1 year low of $6.63 and a 1 year high of $12.94. The company has a market cap of $377.21 million, a P/E ratio of -5.80 and a beta of 1.55.

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

Hedge Funds Weigh In On Wabash National

Large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co acquired a new position in Wabash National during the 4th quarter valued at about $37,000. Quadrant Capital Group LLC increased its stake in Wabash National by 515.4% during the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock valued at $47,000 after buying an additional 4,530 shares during the period. CWM LLC increased its stake in Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock valued at $53,000 after buying an additional 2,758 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Wabash National by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Wabash National during the 4th quarter valued at about $90,000. 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.