Wabash National (NYSE:WNC) Shares Climb 8.9% – Still a Buy?

Shares of Wabash National Corporation (NYSE:WNC) rose 8.9% during mid-day trading on Friday. The company traded as high as $13.57 and last traded at $13.5740. 330,042 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 838,839 shares. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citizens Jmp started coverage on Wabash National in a research report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. DA Davidson reiterated a “buy” rating and set a $20.00 price objective on shares of Wabash National in a research report on Tuesday, September 22nd. National Bank Financial set a $20.00 target price on shares of Wabash National in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Wabash National currently has an average rating of “Hold” and an average price target of $21.67.

Wabash National Stock Up 10.5%

The firm has a fifty day moving average price of $12.66 and a 200-day moving average price of $10.70. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. The firm has a market cap of $560.75 million, a price-to-earnings ratio of -7.15 and a beta of 1.48.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The firm had revenue of $417.24 million during the quarter, compared to analyst estimates of $402.85 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Wabash National Corporation will post -2.41 EPS for the current year.

Wabash National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 8th. Wabash National’s dividend payout ratio is presently -16.58%.

Hedge Funds Weigh In On Wabash National

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in Wabash National in the second quarter worth about $45,000. Legal & General Group Plc bought a new position in shares of Wabash National during the 2nd quarter valued at about $52,000. Inspire Investing LLC grew its stake in shares of Wabash National by 9.4% in the 1st quarter. Inspire Investing LLC now owns 59,404 shares of the company’s stock worth $512,000 after purchasing an additional 5,102 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Wabash National by 36.9% in the 2nd quarter. Squarepoint Ops LLC now owns 20,647 shares of the company’s stock worth $279,000 after purchasing an additional 5,569 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Wabash National in the 2nd quarter worth approximately $91,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

About Wabash National

Wabash National Corporation (NYSE:WNC) is a manufacturer of transportation and logistics equipment based in Lafayette, Indiana. Founded in 1985, the company serves customers across North America, including trucking fleets, freight carriers, food and beverage companies, retailers, and industrial businesses.

Its products include dry van trailers, refrigerated trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also manufactures composite panels and other structural components used in transportation and related applications.

In addition to original equipment, Wabash provides aftermarket parts, repair, maintenance, and related services through its distribution and service operations.