Wabash National Corporation $WNC Holdings Lifted by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in shares of Wabash National Corporation (NYSE:WNC) by 1,036.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 50,621 shares of the company’s stock after buying an additional 46,165 shares during the period. Royal Bank of Canada’s holdings in Wabash National were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake 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 acquiring an additional 83,473 shares in the last quarter. Millennium Management LLC lifted its position in shares of Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after purchasing an additional 411,889 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Wabash National during the first quarter worth approximately $166,000. Empowered Funds LLC boosted 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 purchasing an additional 8,205 shares during the period. Finally, Jane Street Group LLC grew its position in Wabash National by 204.3% during the first quarter. Jane Street Group LLC now owns 463,191 shares of the company’s stock valued at $5,118,000 after purchasing an additional 310,998 shares in the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WNC has been the topic of several research reports. National Bank Financial set a $20.00 price objective on shares of Wabash National in a research note on Wednesday, August 12th. 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. DA Davidson restated a “buy” rating and set a $20.00 price target on shares of Wabash National in a report on Monday. Citizens Jmp started coverage on shares of Wabash National in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Wabash National in a report on Wednesday, August 12th. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Wabash National Trading Up 3.0%

Shares of NYSE WNC opened at $12.41 on Wednesday. The business has a 50 day simple moving average of $12.72 and a 200 day simple moving average of $10.26. Wabash National Corporation has a 52 week low of $6.63 and a 52 week high of $14.32. The stock has a market cap of $505.79 million, a price-to-earnings ratio of -6.43 and a beta of 1.44. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.03. The firm 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 company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) earnings per share. On average, research analysts predict that Wabash National Corporation will post -2.41 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. Wabash National’s dividend payout ratio (DPR) is currently -16.58%.

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.