Zacks Investment Research downgraded shares of Wabash National Corporation (NYSE:WNC) from a buy rating to a hold rating in a report published on Thursday.
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 also recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Wabash National Corporation from $23.00 to $22.00 and set a hold rating for the company in a research note on Monday, November 6th. BMO Capital Markets reissued a hold rating on shares of Wabash National Corporation in a research note on Monday, October 23rd. Craig Hallum reissued a buy rating and set a $27.00 target price on shares of Wabash National Corporation in a research note on Friday, October 6th. ValuEngine downgraded shares of Wabash National Corporation from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of Wabash National Corporation from a sell rating to a hold rating in a research note on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Wabash National Corporation currently has an average rating of Hold and a consensus price target of $22.86.
Shares of Wabash National Corporation (NYSE WNC) traded up $0.41 during trading hours on Thursday, hitting $19.84. 1,275,100 shares of the stock were exchanged, compared to its average volume of 850,432. The firm has a market capitalization of $1,170.12, a price-to-earnings ratio of 14.17, a PEG ratio of 0.69 and a beta of 1.71. The company has a current ratio of 2.03, a quick ratio of 1.18 and a debt-to-equity ratio of 1.04. Wabash National Corporation has a 52 week low of $12.37 and a 52 week high of $24.16.
Wabash National Corporation (NYSE:WNC) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). Wabash National Corporation had a return on equity of 18.42% and a net margin of 5.05%. The business had revenue of $425.10 million for the quarter, compared to analyst estimates of $449.05 million. During the same quarter last year, the firm posted $0.50 EPS. Wabash National Corporation’s revenue for the quarter was down 8.4% on a year-over-year basis. research analysts anticipate that Wabash National Corporation will post 1.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Thursday, October 5th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, October 4th. Wabash National Corporation’s dividend payout ratio (DPR) is currently 17.91%.
Large investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Wabash National Corporation by 9.7% during the second quarter. Prudential Financial Inc. now owns 1,195,979 shares of the company’s stock worth $26,288,000 after acquiring an additional 105,900 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Wabash National Corporation by 1.4% during the first quarter. Alliancebernstein L.P. now owns 95,300 shares of the company’s stock worth $1,972,000 after acquiring an additional 1,300 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in shares of Wabash National Corporation during the second quarter worth about $905,000. Principal Financial Group Inc. increased its position in shares of Wabash National Corporation by 2.0% during the second quarter. Principal Financial Group Inc. now owns 531,090 shares of the company’s stock worth $11,674,000 after acquiring an additional 10,393 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Wabash National Corporation by 222.0% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 884,978 shares of the company’s stock worth $19,451,000 after acquiring an additional 610,175 shares in the last quarter.
About Wabash National Corporation
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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