Wabash National (NYSE:WNC) Trading 8.1% Higher – Still a Buy?

Wabash National Corporation (NYSE:WNC) traded up 8.1% during mid-day trading on Wednesday . The stock traded as high as $13.85 and last traded at $13.8070. 332,748 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 835,858 shares. The stock had previously closed at $12.77.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WNC. National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. DA Davidson reiterated a “buy” rating and set a $20.00 target price on shares of Wabash National in a report on Monday, August 24th. Citizens Jmp assumed coverage on shares of Wabash National in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.67.

Wabash National Price Performance

The stock has a market capitalization of $582.17 million, a price-to-earnings ratio of -7.40 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 business’s 50 day simple moving average is $12.89 and its 200-day simple moving average is $10.35.

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

Wabash National Announces Dividend

The company 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. The ex-dividend date is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a yield of 2.2%. Wabash National’s payout ratio is currently -16.58%.

Hedge Funds Weigh In On Wabash National

Several large investors have recently modified their holdings of WNC. California State Teachers Retirement System raised its position in Wabash National by 246.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,398 shares of the company’s stock worth $100,000 after purchasing an additional 5,264 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Wabash National during the 2nd quarter valued at $337,000. Empowered Funds LLC acquired a new stake in shares of Wabash National in the 2nd quarter valued at about $1,999,000. Jefferies Financial Group Inc. bought a new stake in shares of Wabash National during the second quarter valued at approximately $1,038,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Wabash National during the 2nd quarter valued at $998,000. Institutional investors own 97.05% of the company’s stock.

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.