Wabash National (NYSE:WNC) Stock Price Up 8.1% – What’s Next?

Wabash National Corporation (NYSE:WNC) shares shot up 8.1% during mid-day trading on Wednesday . The stock traded as high as $13.85 and last traded at $13.8070. Approximately 332,748 shares changed hands during trading, a decline of 60% from the average daily volume of 835,858 shares. The stock had previously closed at $12.77.

Analyst Ratings Changes

A number of analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $20.00 price target on shares of Wabash National in a research note on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Wabash National in a report on Wednesday, August 12th. National Bank Financial set a $20.00 target price on shares of Wabash National in a research report on Wednesday, August 12th. Citizens Jmp assumed coverage on shares of Wabash National in a research note on Wednesday, July 15th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Wabash National Stock Performance

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market capitalization of $565.84 million, a P/E ratio of -7.15 and a beta of 1.44. The business has a 50-day moving average price of $12.86 and a 200 day moving average price of $10.32.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The business had revenue of $417.24 million for the quarter, compared to the consensus estimate of $402.85 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Wabash National Corporation will post -2.41 EPS for the current fiscal year.

Wabash National Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 8th. Wabash National’s dividend payout ratio is currently -16.58%.

Institutional Investors Weigh In On Wabash National

Several institutional investors have recently modified their holdings of the business. Allworth Financial LP purchased a new stake in shares of Wabash National during the 2nd quarter valued at about $45,000. Legal & General Group Plc purchased a new stake in Wabash National in the 2nd quarter worth approximately $52,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Wabash National in the fourth quarter worth $37,000. Quadrant Capital Group LLC raised its holdings in Wabash National by 515.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock valued at $47,000 after acquiring an additional 4,530 shares during the period. Finally, CWM LLC raised 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 purchasing an additional 2,758 shares during the period. 97.05% of the stock is owned by hedge funds and other institutional investors.

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.