Wabash National (NYSE:WNC) Price Target Raised to $11.00

Wabash National (NYSE:WNC) had its price target increased by DA Davidson from $9.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also weighed in on WNC. Zacks Research upgraded shares of Wabash National from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. National Bank Financial set a $9.00 target price on Wabash National in a research report on Thursday, October 23rd. Weiss Ratings lowered Wabash National from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Finally, Wall Street Zen upgraded Wabash National from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Wabash National Stock Performance

NYSE WNC opened at $11.65 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.39 and a quick ratio of 0.79. Wabash National has a 1-year low of $6.78 and a 1-year high of $13.15. The firm has a market capitalization of $472.22 million, a P/E ratio of 2.39 and a beta of 1.67. The business’s 50-day simple moving average is $9.95 and its 200-day simple moving average is $9.73.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.16). Wabash National had a net margin of 13.71% and a negative return on equity of 22.80%. The business had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $318.32 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The company’s quarterly revenue was down 22.9% on a year-over-year basis. Equities analysts predict that Wabash National will post 0.94 EPS for the current year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Thursday, January 8th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, January 8th. This represents a $0.32 dividend on an annualized basis and a yield of 2.7%. Wabash National’s dividend payout ratio is currently 6.57%.

Hedge Funds Weigh In On Wabash National

A number of institutional investors have recently made changes to their positions in WNC. Royal Bank of Canada grew its position in shares of Wabash National by 93.9% in the 1st quarter. Royal Bank of Canada now owns 30,789 shares of the company’s stock worth $339,000 after acquiring an additional 14,912 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Wabash National by 59.1% in the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company’s stock worth $2,483,000 after purchasing an additional 83,473 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Wabash National by 864.3% in the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock worth $5,078,000 after acquiring an additional 411,889 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Wabash National in the first quarter worth about $166,000. Finally, Empowered Funds LLC boosted its stake in Wabash National by 4.2% in the 1st quarter. Empowered Funds LLC now owns 202,429 shares of the company’s stock worth $2,237,000 after purchasing an additional 8,205 shares during the period. 97.05% of the stock is owned by institutional investors and hedge funds.

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.