Wabash National Corporation (NYSE:WNC) Short Interest Up 27.5% in February

Wabash National Corporation (NYSE:WNC) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 2,423,233 shares, a growth of 27.5% from the January 29th total of 1,900,302 shares. Currently, 6.1% of the company’s shares are short sold. Based on an average trading volume of 851,000 shares, the short-interest ratio is currently 2.8 days. Based on an average trading volume of 851,000 shares, the short-interest ratio is currently 2.8 days. Currently, 6.1% of the company’s shares are short sold.

Wabash National Stock Performance

Shares of WNC stock opened at $9.91 on Thursday. The stock’s 50-day moving average is $10.35 and its two-hundred day moving average is $9.79. Wabash National has a fifty-two week low of $6.78 and a fifty-two week high of $12.94. The firm has a market cap of $400.76 million, a P/E ratio of 2.03 and a beta of 1.66. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.39 and a quick ratio of 0.79.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, February 4th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.16). Wabash National had a negative return on equity of 22.79% and a net margin of 13.71%.The firm had revenue of $321.45 million for the quarter, compared to analyst estimates of $318.32 million. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s revenue was down 22.9% on a year-over-year basis. Analysts predict that Wabash National will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. Wabash National’s dividend payout ratio is 6.57%.

Hedge Funds Weigh In On Wabash National

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP bought a new position in Wabash National in the 2nd quarter valued at about $32,629,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock worth $17,975,000 after purchasing an additional 36,226 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Wabash National by 17.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock valued at $13,394,000 after acquiring an additional 233,979 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Wabash National by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock worth $15,367,000 after purchasing an additional 59,054 shares during the last quarter. Finally, Royce & Associates LP lifted its position in shares of Wabash National by 1.4% in the 3rd quarter. Royce & Associates LP now owns 1,210,338 shares of the company’s stock worth $11,946,000 after purchasing an additional 16,838 shares during the period. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WNC shares. Weiss Ratings downgraded shares of Wabash National from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, February 24th. DA Davidson reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Wabash National in a report on Thursday, February 19th. Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Wabash National from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Wabash National currently has an average rating of “Reduce” and a consensus target price of $10.00.

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.