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

Wabash National (NYSE:WNC)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $20.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 69.06% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. National Bank Financial set a $20.00 target price on shares of Wabash National in a research report on Wednesday, August 12th. Citizens Jmp began coverage on shares of Wabash National in a research note on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Weiss Ratings restated 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.67.

Wabash National Stock Performance

Shares of NYSE WNC opened at $11.83 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.80. Wabash National has a one year low of $6.63 and a one year high of $14.47. The business’s 50-day moving average price is $12.81 and its two-hundred day moving average price is $10.51. The company has a market capitalization of $481.95 million, a P/E ratio of -6.13 and a beta of 1.45.

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

Institutional Investors Weigh In On Wabash National

Large investors have recently added to or reduced their stakes 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 period. AXQ Capital LP acquired a new position in shares of Wabash National in the 2nd quarter worth approximately $337,000. Empowered Funds LLC bought a new position in shares of Wabash National during the 2nd quarter worth approximately $1,999,000. Jefferies Financial Group Inc. bought a new position in shares of Wabash National during the 2nd quarter worth approximately $1,038,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Wabash National in the 2nd quarter valued at $998,000. Institutional investors own 97.05% of the company’s stock.

Wabash National Company Profile

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.