DA Davidson Reaffirms “Buy” Rating for Wabash National (NYSE:WNC)

Wabash National (NYSE:WNC)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $20.00 price objective on the stock. DA Davidson’s price objective suggests a potential upside of 57.93% from the company’s current price.

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

Wabash National Trading Down 2.8%

Shares of NYSE:WNC traded down $0.37 during midday trading on Tuesday, reaching $12.66. 736,854 shares of the company’s stock were exchanged, compared to its average volume of 690,290. The firm’s 50 day simple moving average is $12.73 and its two-hundred day simple moving average is $10.61. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a market cap of $515.93 million, a price-to-earnings ratio of -6.56 and a beta of 1.45. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.47.

Wabash National (NYSE:WNC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. During the same period last year, the company earned ($0.15) EPS. The company’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Wabash National will post -2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Wabash National

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC lifted its stake in Wabash National by 36.9% during the second quarter. Squarepoint Ops LLC now owns 20,647 shares of the company’s stock worth $279,000 after purchasing an additional 5,569 shares during the last quarter. AXQ Capital LP purchased a new stake in Wabash National during the second quarter worth approximately $337,000. Empowered Funds LLC purchased a new stake in Wabash National during the second quarter worth approximately $1,999,000. Jefferies Financial Group Inc. purchased a new stake in Wabash National during the second quarter worth approximately $1,038,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Wabash National during the second quarter worth approximately $998,000. Hedge funds and other institutional investors own 97.05% of the company’s stock.

About Wabash National

Wabash National Corporation (NYSE:WNC) is a manufacturer of transportation and logistics equipment based in Lafayette, Indiana. Founded in 1985, the company serves customers across North America, including trucking fleets, freight carriers, food and beverage companies, retailers, and industrial businesses.

Its products include dry van trailers, refrigerated trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also manufactures composite panels and other structural components used in transportation and related applications.

In addition to original equipment, Wabash provides aftermarket parts, repair, maintenance, and related services through its distribution and service operations.