Wabash National (NYSE:WNC) Shares Gap Down – What’s Next?

Wabash National Corporation (NYSE:WNC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $13.42, but opened at $11.94. Wabash National shares last traded at $12.3020, with a volume of 1,494,131 shares trading hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Wabash National from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Citizens Jmp began coverage on Wabash National in a research report on Wednesday. They set an “outperform” rating and a $25.00 target price on the stock. Finally, DA Davidson upgraded Wabash National from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $20.00 in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Wabash National Stock Down 0.8%

The business’s fifty day moving average price is $9.98 and its 200 day moving average price is $9.72. The firm has a market capitalization of $509.80 million, a price-to-earnings ratio of -7.83 and a beta of 1.43. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55.

Wabash National (NYSE:WNC) last announced its earnings results on Friday, May 1st. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). The business had revenue of $303.23 million during the quarter, compared to analysts’ expectations of $319.03 million. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. Wabash National’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.58) earnings per share. On average, equities analysts expect that Wabash National Corporation will post -1.75 EPS for the current year.

Wabash National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.6%. Wabash National’s payout ratio is presently -20.00%.

Institutional Investors Weigh In On Wabash National

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Wabash National by 210.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 122,311 shares of the company’s stock valued at $1,207,000 after buying an additional 82,879 shares during the last quarter. Polaris Capital Management LLC raised its position in Wabash National by 88.2% during the 4th quarter. Polaris Capital Management LLC now owns 144,670 shares of the company’s stock worth $1,251,000 after buying an additional 67,800 shares during the last quarter. Womack Financial LLC lifted its stake in shares of Wabash National by 45.9% in the 4th quarter. Womack Financial LLC now owns 195,741 shares of the company’s stock worth $1,693,000 after acquiring an additional 61,561 shares during the period. Pullen Investment Management LLC acquired a new stake in shares of Wabash National in the 1st quarter worth $1,846,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Wabash National by 104.3% in the fourth quarter. GSA Capital Partners LLP now owns 143,594 shares of the company’s stock valued at $1,242,000 after acquiring an additional 73,325 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

Wabash National Company Profile

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.