Citizens Jmp Initiates Coverage on Wabash National (NYSE:WNC)

Citizens Jmp assumed coverage on shares of Wabash National (NYSE:WNC) in a research report issued on Wednesday. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Citizens Jmp’s target price would indicate a potential upside of 85.63% from the stock’s previous close.

A number of other research analysts have also issued reports on WNC. Wall Street Zen lowered Wabash National from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Finally, DA Davidson upgraded shares of Wabash National from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $8.50 to $20.00 in a research report on Wednesday, June 17th. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Wabash National Price Performance

Shares of WNC opened at $13.47 on Wednesday. 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 fifty-two week low of $6.63 and a fifty-two week high of $14.32. The firm has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $9.67. The company has a market capitalization of $547.74 million, a price-to-earnings ratio of -8.42 and a beta of 1.43.

Wabash National (NYSE:WNC) last issued its quarterly earnings results 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). Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The company had revenue of $303.23 million during the quarter, compared to analyst estimates of $319.03 million. During the same quarter last year, the firm earned ($0.58) EPS. The business’s revenue was down 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Wabash National will post -1.75 earnings per share for the current year.

Institutional Investors Weigh In On Wabash National

A number of institutional investors and hedge funds have recently modified their holdings of WNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $17,975,000 after buying an additional 36,226 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Wabash National by 17.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock worth $14,291,000 after purchasing an additional 247,345 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 233,979 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 purchasing an additional 59,054 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 purchasing an additional 684,397 shares during the period. 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.