Wabash National (NYSE:WNC) Given “Neutral” Rating at DA Davidson

DA Davidson restated their neutral rating on shares of Wabash National (NYSE:WNC) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $9.00 target price on the stock.

WNC has been the topic of a number of other reports. Wall Street Zen raised shares of Wabash National from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. National Bankshares set a $9.00 target price on Wabash National in a research note on Thursday, October 23rd. Zacks Research downgraded Wabash National from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings lowered Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus target price of $9.00.

Wabash National Stock Up 10.2%

NYSE:WNC traded up $0.78 on Friday, hitting $8.36. 688,301 shares of the company’s stock traded hands, compared to its average volume of 833,188. The company has a market cap of $338.52 million, a PE ratio of -3.45 and a beta of 1.73. Wabash National has a 1 year low of $6.78 and a 1 year high of $20.63. The company has a current ratio of 1.68, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $9.00 and a 200-day moving average price of $9.80.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Wednesday, December 1st. The company reported $0.22 EPS for the quarter. The business had revenue of $482.57 million during the quarter. Wabash National had a negative net margin of 6.38% and a negative return on equity of 7.91%. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. Equities analysts anticipate that Wabash National will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Thursday, January 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, January 8th. Wabash National’s payout ratio is 5.26%.

Hedge Funds Weigh In On Wabash National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Wabash National by 55.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company’s stock worth $39,000 after buying an additional 1,331 shares during the last quarter. CWM LLC raised its holdings in Wabash National by 1,520.7% in the 1st quarter. CWM LLC now owns 5,235 shares of the company’s stock worth $58,000 after acquiring an additional 4,912 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Wabash National during the 3rd quarter worth $73,000. BNP Paribas Financial Markets boosted its holdings in Wabash National by 104.4% during the third quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after acquiring an additional 4,129 shares during the period. Finally, Inceptionr LLC bought a new stake in Wabash National during the third quarter valued at about $102,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wabash National Company Profile

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.