Raymond James Increases Wabash National (NYSE:WNC) Price Target to $24.00

Wabash National (NYSE:WNC) had its price target boosted by stock analysts at Raymond James from $22.00 to $24.00 in a research note issued to investors on Thursday, Analyst Price Targets reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 10.96% from the stock’s current price.

WNC has been the subject of several other research reports. DA Davidson initiated coverage on shares of Wabash National in a research note on Friday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research upgraded shares of Wabash National from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Saturday, January 8th. Finally, TheStreet upgraded shares of Wabash National from a “c+” rating to a “b” rating in a research note on Friday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $21.67.

Shares of WNC opened at $21.63 on Thursday. The company has a 50 day moving average price of $18.85 and a 200-day moving average price of $16.41. Wabash National has a fifty-two week low of $13.04 and a fifty-two week high of $21.63. The stock has a market capitalization of $1.07 billion, a PE ratio of 34.89 and a beta of 1.69. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.12 and a current ratio of 2.02.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Tuesday, November 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Wabash National had a net margin of 1.85% and a return on equity of 7.76%. The firm had revenue of $482.57 million during the quarter, compared to analysts’ expectations of $517.23 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company’s revenue was up 37.3% compared to the same quarter last year. Equities research analysts forecast that Wabash National will post 0.61 EPS for the current year.

In other Wabash National news, CEO Brent L. Yeagy sold 1,836 shares of the company’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $16.00, for a total transaction of $29,376.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brent L. Yeagy sold 10,178 shares of the company’s stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $20.00, for a total transaction of $203,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,222 shares of company stock worth $351,863 in the last 90 days. 1.12% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Wabash National by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,601,980 shares of the company’s stock valued at $105,631,000 after acquiring an additional 43,770 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wabash National by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,244,778 shares of the company’s stock worth $49,095,000 after buying an additional 24,986 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Wabash National by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 2,984,733 shares of the company’s stock worth $47,756,000 after buying an additional 153,506 shares in the last quarter. State Street Corp boosted its holdings in Wabash National by 2.4% during the second quarter. State Street Corp now owns 1,762,962 shares of the company’s stock worth $28,207,000 after buying an additional 40,822 shares in the last quarter. Finally, Towle & Co. boosted its holdings in Wabash National by 41.8% during the third quarter. Towle & Co. now owns 1,465,392 shares of the company’s stock worth $22,171,000 after buying an additional 431,609 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Wabash National

Wabash National Corp. engages in the design, manufacture and market of semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. It operates through the following segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures van and platform trailers and other transportation related equipment to customers who purchase directly from the Company or through independent dealers.

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Analyst Recommendations for Wabash National (NYSE:WNC)

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