Wabash National (NYSE:WNC) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson reaffirmed its “Buy” rating on Wabash National and set a $20 price target, implying approximately 69% upside from the prior close.
• Analyst sentiment remains mixed: Wabash has a consensus “Hold” rating and an average price target of $21.67, with ratings ranging from Sell to Outperform.
• Wabash reported a quarterly loss of $0.53 per share, slightly beating estimates, while revenue fell 9.1% year over year to $417.24 million. Institutional investors own approximately 97.05% of the company’s shares.

Wabash National (NYSE:WNC - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $20.00 price target on the stock. DA Davidson's price target would suggest a potential upside of 69.06% from the stock's previous close.

Several other analysts also recently issued reports on WNC. Weiss Ratings restated a "sell (d-)" rating on shares of Wabash National in a report on Wednesday, August 12th. National Bank Financial set a $20.00 target price on shares of Wabash National in a report on Wednesday, August 12th. Wall Street Zen raised shares of Wabash National from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Citizens Jmp began coverage on shares of Wabash National in a report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.67.

Wabash National Trading Down 0.3%

Wabash National stock opened at $11.83 on Tuesday. The firm has a market cap of $481.95 million, a price-to-earnings ratio of -6.13 and a beta of 1.45. Wabash National has a 1 year low of $6.63 and a 1 year high of $14.47. The firm's 50 day moving average price is $12.81 and its two-hundred day moving average price is $10.51. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31.

Wabash National (NYSE:WNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.03. The company had revenue of $417.24 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, research analysts predict that Wabash National will post -2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Wabash National

A number of large investors have recently made changes to their positions in WNC. Squarepoint Ops LLC lifted its position in shares of Wabash National by 36.9% in the second quarter. Squarepoint Ops LLC now owns 20,647 shares of the company's stock worth $279,000 after purchasing an additional 5,569 shares in the last quarter. AXQ Capital LP acquired a new position in Wabash National in the 2nd quarter valued at approximately $337,000. Empowered Funds LLC acquired a new position in Wabash National in the 2nd quarter valued at approximately $1,999,000. Jefferies Financial Group Inc. purchased a new stake in Wabash National in the 2nd quarter worth approximately $1,038,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Wabash National in the 2nd quarter worth approximately $998,000. Institutional investors and hedge funds own 97.05% of the company's stock.

Wabash National Company Profile

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.

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