Wabash National (NYSE:WNC) Stock Jumps 8.1% – Should You Buy?

Wabash National Corporation (NYSE:WNC) shares traded up 8.1% on Friday. The company traded as high as $12.99 and last traded at $12.6580. Approximately 143,200 shares traded hands during trading, a decline of 83% from the average daily volume of 821,903 shares. The stock had previously closed at $11.71.

Analyst Ratings Changes

WNC has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Citizens Jmp initiated coverage on Wabash National in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. DA Davidson restated a “buy” rating and set a $20.00 price target on shares of Wabash National in a research report on Tuesday. Finally, National Bank Financial set a $20.00 price target on Wabash National in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Wabash National has a consensus rating of “Hold” and an average price target of $21.67.

Wabash National Trading Up 7.5%

The firm has a market cap of $512.88 million, a PE ratio of -6.49 and a beta of 1.45. 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 stock’s fifty day simple moving average is $12.75 and its two-hundred day simple moving average is $10.56.

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

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National’s dividend payout ratio (DPR) is -16.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WNC. BlackRock Inc. bought a new stake in Wabash National in the second quarter worth $47,125,000. Dimensional Fund Advisors LP increased its holdings in shares of Wabash National by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock valued at $14,291,000 after acquiring an additional 247,345 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Wabash National during the second quarter valued at $9,812,434. Bank of New York Mellon Corp purchased a new position in shares of Wabash National in the 2nd quarter worth about $6,151,000. Finally, Empowered Funds LLC raised its position in shares of Wabash National by 40.1% in the 1st quarter. Empowered Funds LLC now owns 589,884 shares of the company’s stock worth $5,085,000 after purchasing an additional 168,929 shares during the last quarter. Hedge funds and other institutional investors 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.