Wabash National Corp. (WNC) Lowered to “Hold” at Zacks Investment Research
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. “
Other research analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Wabash National Corp. from a hold rating to a sell rating and set a $11.00 target price for the company. in a research note on Monday, June 13th. Credit Agricole SA assumed coverage on shares of Wabash National Corp. in a research note on Friday, September 30th. They set an underperform rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Wabash National Corp. presently has an average rating of Hold and an average target price of $13.67.
Shares of Wabash National Corp. (NYSE:WNC) opened at 14.17 on Tuesday. The stock’s 50 day moving average price is $13.87 and its 200-day moving average price is $13.53. The stock has a market cap of $905.72 million, a price-to-earnings ratio of 7.42 and a beta of 2.09. Wabash National Corp. has a 52-week low of $9.68 and a 52-week high of $14.97.
Wabash National Corp. (NYSE:WNC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.08. Wabash National Corp. had a net margin of 6.43% and a return on equity of 28.98%. The business earned $471.44 million during the quarter, compared to analyst estimates of $490.19 million. During the same period in the previous year, the business posted $0.33 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts predict that Wabash National Corp. will post $1.86 earnings per share for the current fiscal year.
In other news, SVP Erin Jennifer Roth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $14.50, for a total value of $108,750.00. Following the sale, the senior vice president now owns 87,520 shares of the company’s stock, valued at approximately $1,269,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of 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. Artemis Investment Management LLP bought a new stake in shares of Wabash National Corp. during the second quarter worth approximately $13,342,000. UBS Group AG raised its stake in shares of 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. Smith Asset Management Group LP raised its stake in shares of 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, Nordea Investment Management AB raised its stake in shares of 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.
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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