Wabash National (NYSE:WNC) Stock Price Down 4.9% – Here’s Why

Shares of Wabash National Co. (NYSE:WNC) traded down 4.9% on Wednesday . The stock traded as low as $16.13 and last traded at $16.19. 102,431 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 367,130 shares. The stock had previously closed at $17.02.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “neutral” rating and issued a $18.00 target price on shares of Wabash National in a research note on Monday, September 30th.

Wabash National Stock Performance

The firm has a 50 day simple moving average of $18.33 and a 200-day simple moving average of $19.12. The company has a quick ratio of 1.12, a current ratio of 1.88 and a debt-to-equity ratio of 1.97.

Wabash National (NYSE:WNC) last posted its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). Wabash National had a negative net margin of 10.94% and a positive return on equity of 22.98%. The company had revenue of $464.00 million during the quarter, compared to analysts’ expectations of $477.35 million. During the same quarter last year, the firm earned $1.16 EPS. Wabash National’s revenue for the quarter was down 26.7% on a year-over-year basis. Sell-side analysts predict that Wabash National Co. will post 1.29 EPS for the current fiscal year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.99%. Wabash National’s payout ratio is -5.89%.

Insider Transactions at Wabash National

In other Wabash National news, SVP Michael N. Pettit sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $17.19, for a total value of $25,785.00. Following the completion of the transaction, the senior vice president now directly owns 117,227 shares of the company’s stock, valued at approximately $2,015,132.13. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.78% of the company’s stock.

Institutional Trading of Wabash National

Several large investors have recently made changes to their positions in WNC. Millennium Management LLC increased its position in shares of Wabash National by 1,311.6% during the second quarter. Millennium Management LLC now owns 279,900 shares of the company’s stock worth $6,113,000 after purchasing an additional 260,072 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Wabash National in the 3rd quarter valued at $3,457,000. American Century Companies Inc. grew its holdings in Wabash National by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 1,095,915 shares of the company’s stock valued at $23,935,000 after buying an additional 180,080 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Wabash National by 43.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 589,929 shares of the company’s stock valued at $11,321,000 after buying an additional 178,430 shares in the last quarter. Finally, CX Institutional purchased a new stake in Wabash National in the 3rd quarter valued at $2,322,000. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.