Wabash National (NYSE:WNC) Trading 5.6% Higher – Here’s What Happened

Wabash National Co. (NYSE:WNC) traded up 5.6% during mid-day trading on Thursday . The stock traded as high as $11.78 and last traded at $11.78. 395,613 shares traded hands during trading, a decline of 67% from the average session volume of 1,186,852 shares. The stock had previously closed at $11.16.

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased their price objective on shares of Wabash National from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th.

Wabash National Price Performance

The firm has a fifty day moving average of $12.99 and a two-hundred day moving average of $16.53. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.93 and a quick ratio of 1.09. The stock has a market capitalization of $506.43 million, a P/E ratio of -1.83 and a beta of 1.64.

Wabash National (NYSE:WNC) last announced its quarterly earnings results on Wednesday, January 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Wabash National had a negative net margin of 14.59% and a positive return on equity of 14.72%. During the same period last year, the company earned $1.07 earnings per share. On average, analysts predict that Wabash National Co. will post 0.94 EPS for the current year.

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.68%. Wabash National’s payout ratio is currently -4.91%.

Insider Transactions at Wabash National

In other Wabash National news, SVP Michael N. Pettit sold 1,500 shares of Wabash National 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 sale, the senior vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Wabash National

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its holdings in Wabash National by 121.4% in the 3rd quarter. Barclays PLC now owns 163,251 shares of the company’s stock valued at $3,132,000 after purchasing an additional 89,522 shares in the last quarter. Jane Street Group LLC raised its stake in Wabash National by 46.8% during the third quarter. Jane Street Group LLC now owns 160,946 shares of the company’s stock worth $3,089,000 after acquiring an additional 51,274 shares during the period. HighTower Advisors LLC bought a new stake in Wabash National in the third quarter valued at $192,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wabash National during the fourth quarter worth approximately $644,000. Finally, BNP Paribas Financial Markets grew its position in Wabash National by 75.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,590 shares of the company’s stock valued at $1,623,000 after buying an additional 36,490 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

About Wabash National

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.