Wabash National (NYSE:WNC) Sees Strong Trading Volume – Here’s Why

Wabash National Corporation (NYSE:WNC) saw an uptick in trading volume on Thursday . Approximately 738,529 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 761,314 shares.The stock last traded at $12.31 and had previously closed at $12.64.

Wall Street Analyst Weigh In

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

Wabash National Trading Up 7.0%

The firm has a market cap of $545.47 million, a price-to-earnings ratio of -8.38 and a beta of 1.43. The business has a fifty day moving average of $10.09 and a two-hundred day moving average of $9.75. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.77 and a current ratio of 1.33.

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

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, July 2nd. Wabash National’s dividend payout ratio is presently -20.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co purchased a new position in Wabash National in the fourth quarter valued at about $37,000. Quadrant Capital Group LLC boosted its position in shares of Wabash National by 515.4% in the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock worth $47,000 after buying an additional 4,530 shares during the period. CWM LLC boosted its position in shares of Wabash National by 82.6% in the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock worth $53,000 after buying an additional 2,758 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Wabash National by 104.4% in the third quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock valued at $80,000 after buying an additional 4,129 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Wabash National in the fourth quarter valued at about $90,000. 97.05% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

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.