Zacks Investment Research Downgrades Wabash National Corporation (WNC) to Hold
Wabash National Corporation (NYSE:WNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 analysts have also commented on WNC. Stifel Nicolaus reduced their price objective 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. Craig Hallum raised shares of Wabash National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. BidaskClub raised shares of Wabash National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Aegis upped their price objective on shares of Wabash National Corporation from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, ValuEngine lowered shares of Wabash National Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.86.
Wabash National Corporation (NYSE WNC) opened at $19.84 on Thursday. Wabash National Corporation has a 12-month low of $12.37 and a 12-month high of $24.16. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.18 and a current ratio of 2.03. The firm has a market cap of $1,160.00, a PE ratio of 13.62, a PEG ratio of 0.66 and a beta of 1.71.
Wabash National Corporation (NYSE:WNC) last posted its quarterly earnings data 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 net margin of 5.05% and a return on equity of 18.42%. The firm had revenue of $425.10 million for the quarter, compared to analysts’ expectations of $449.05 million. During the same period in the prior year, the company posted $0.50 earnings per share. Wabash National Corporation’s quarterly revenue was down 8.4% compared to the same quarter last year. sell-side analysts expect that Wabash National Corporation will post 1.35 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of WNC. Meeder Asset Management Inc. lifted its position in shares of Wabash National Corporation by 390.1% in the second quarter. Meeder Asset Management Inc. now owns 7,450 shares of the company’s stock worth $163,000 after purchasing an additional 5,930 shares in the last quarter. Ronna Sue Cohen purchased a new stake in shares of Wabash National Corporation in the second quarter worth approximately $203,000. Hikari Power Ltd purchased a new stake in shares of Wabash National Corporation in the second quarter worth approximately $209,000. US Bancorp DE lifted its position in shares of Wabash National Corporation by 246.9% in the second quarter. US Bancorp DE now owns 9,757 shares of the company’s stock worth $215,000 after purchasing an additional 6,944 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Wabash National Corporation in the second quarter worth approximately $235,000.
Wabash National Corporation Company Profile
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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