Zacks Investment Research Upgrades Wabash National Corp. (WNC) to “Buy”
Wabash National Corp. (NYSE:WNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $16.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.28% from the stock’s current price.
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. “
Separately, Stifel Nicolaus lowered Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 price target for the company. in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Wabash National Corp. currently has a consensus rating of “Hold” and a consensus price target of $13.40.
Wabash National Corp. (NYSE:WNC) traded up 1.088% during mid-day trading on Wednesday, reaching $14.405. The company’s stock had a trading volume of 539,329 shares. The firm has a market cap of $920.74 million, a PE ratio of 7.542 and a beta of 2.11. Wabash National Corp. has a one year low of $9.68 and a one year high of $14.97. The stock’s 50 day moving average is $13.75 and its 200 day moving average is $13.48.
Wabash National Corp. (NYSE:WNC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.47 by $0.08. Wabash National Corp. had a return on equity of 28.98% and a net margin of 6.43%. The business earned $471.44 million during the quarter, compared to analyst estimates of $490.19 million. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts anticipate that Wabash National Corp. will post $1.86 EPS for the current year.
In other news, SVP Erin Jennifer Roth sold 7,500 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $14.50, for a total value of $108,750.00. Following the sale, the senior vice president now directly owns 87,520 shares in the company, valued at $1,269,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in Wabash National Corp. by 2.2% in the first quarter. Goldman Sachs Group Inc. now owns 921,737 shares of the company’s stock worth $12,167,000 after buying an additional 20,134 shares in the last quarter. UBS Group AG boosted its stake in Wabash National Corp. by 1.8% in the first quarter. UBS Group AG now owns 201,913 shares of the company’s stock worth $2,666,000 after buying an additional 3,564 shares in the last quarter. Nordea Investment Management AB boosted its stake in Wabash National Corp. by 275.2% in the second quarter. Nordea Investment Management AB now owns 46,814 shares of the company’s stock worth $595,000 after buying an additional 34,338 shares in the last quarter. Smith Asset Management Group LP boosted its stake in Wabash National Corp. by 2.6% in the second quarter. Smith Asset Management Group LP now owns 263,428 shares of the company’s stock worth $3,346,000 after buying an additional 6,790 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new stake in Wabash National Corp. during the first quarter worth $1,583,000.
About Wabash National Corp.
Wabash National Corporation is engaged in designing, manufacturing and marketing standard and customized truck and tank trailers, intermodal equipment and transportation related products. The Company’s segments include Commercial Trailer Products, Diversified Products, Retail, and Corporate and Eliminations.
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