Zacks Investment Research restated their strong-buy rating on shares of Wabash National (NYSE:WNC) in a research note issued to investors on Sunday morning, Zacks.com reports. They currently have a $16.00 price objective on the stock.
According to Zacks, “Wabash National Corporation is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, and intermodal equipment. Its innovative core products are sold under the DuraPlate, ArcticLite, and Eagle brand names. The company operates two wholly owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed and drop deck trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and aftermarket parts throughout the U.S. and Canada. “
A number of other equities analysts have also recently commented on the stock. ValuEngine cut shares of Wabash National from a hold rating to a sell rating in a report on Saturday, July 6th. Craig Hallum cut shares of Wabash National from a buy rating to a hold rating and set a $18.00 price target for the company. in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $17.83.
Shares of NYSE WNC opened at $14.69 on Friday. The stock has a market cap of $783.14 million, a PE ratio of 10.20 and a beta of 2.06. The company has a quick ratio of 1.09, a current ratio of 1.92 and a debt-to-equity ratio of 0.98. Wabash National has a 52-week low of $12.25 and a 52-week high of $19.43. The business has a 50-day moving average price of $14.53 and a 200 day moving average price of $14.59.
Wabash National (NYSE:WNC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.49 by $0.07. Wabash National had a return on equity of 17.36% and a net margin of 2.67%. The company had revenue of $626.05 million for the quarter, compared to analyst estimates of $613.36 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Wabash National will post 1.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, October 2nd. Wabash National’s dividend payout ratio is presently 22.22%.
A number of institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its holdings in shares of Wabash National by 128.2% during the second quarter. Meeder Asset Management Inc. now owns 4,307 shares of the company’s stock worth $70,000 after purchasing an additional 2,420 shares during the period. First Quadrant L P CA purchased a new stake in shares of Wabash National in the second quarter valued at about $82,000. Everence Capital Management Inc. purchased a new stake in shares of Wabash National in the first quarter valued at about $152,000. Verition Fund Management LLC acquired a new position in shares of Wabash National during the second quarter worth about $167,000. Finally, Convergence Investment Partners LLC acquired a new position in shares of Wabash National during the second quarter worth about $170,000. 98.87% of the stock is owned by institutional investors.
About Wabash National
Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.
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