Wabash National (NYSE:WNC) Stock Rating Upgraded by DA Davidson

Key Points

• DA Davidson upgraded Wabash National from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $23.33.
• Wabash National reported a quarterly loss of $0.63 per share, missing estimates by $0.17, although revenue rose 24.8% year over year to $476.41 million.
• Shares opened at $11.77, up 0.3%, with institutional investors owning approximately 97.05% of the company’s stock.

Wabash National (NYSE:WNC - Get Free Report) was upgraded by equities researchers at DA Davidson from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also recently issued reports about the company. Citizens Jmp assumed coverage on Wabash National in a report on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 price target on the stock. Wall Street Zen raised shares of Wabash National from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Citigroup reiterated a "market outperform" rating on shares of Wabash National in a research report on Tuesday, October 20th. National Bank Financial set a $25.00 target price on shares of Wabash National in a report on Tuesday, October 20th. Finally, Weiss Ratings raised shares of Wabash National from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.33.

Wabash National Trading Up 0.3%

Shares of Wabash National stock opened at $11.77 on Monday. The company has a market capitalization of $479.64 million, a P/E ratio of -3.45 and a beta of 1.48. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The company has a fifty day moving average of $12.89 and a 200 day moving average of $10.89. Wabash National has a fifty-two week low of $6.63 and a fifty-two week high of $14.55.

Wabash National (NYSE:WNC - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.17). The business had revenue of $476.41 million during the quarter, compared to analysts' expectations of $453.74 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 up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) EPS. On average, sell-side analysts anticipate that Wabash National will post -2.41 earnings per share for the current fiscal year.

Institutional Trading of Wabash National

Several hedge funds have recently modified their holdings of WNC. Calamos Advisors LLC purchased a new stake in shares of Wabash National during the 3rd quarter valued at about $214,000. Pullen Investment Management LLC lifted its holdings in shares of Wabash National by 10.3% in the 3rd quarter. Pullen Investment Management LLC now owns 239,480 shares of the company's stock valued at $2,953,000 after acquiring an additional 22,318 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Wabash National by 1.8% in the 3rd quarter. Inspire Investing LLC now owns 51,725 shares of the company's stock valued at $638,000 after acquiring an additional 904 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Wabash National in the 3rd quarter valued at about $278,000. Finally, Fortitude Family Office LLC grew its position in Wabash National by 2,359.3% in the third quarter. Fortitude Family Office LLC now owns 3,320 shares of the company's stock worth $41,000 after acquiring an additional 3,185 shares in the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wabash National Company Profile

Wabash National Corporation is a transportation equipment and logistics solutions manufacturer headquartered in Lafayette, Indiana. The company designs and produces equipment used to move freight across North America, serving trucking, transportation, distribution, and logistics customers.

Its product portfolio includes dry and refrigerated van trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also provides related parts, services, and technologies intended to support trailer maintenance, fleet operations, and supply-chain efficiency.

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