DA Davidson Has Lowered Expectations for Wabash National (NYSE:WNC) Stock Price

Key Points

• DA Davidson cut its price target to $8.50 (from $11.00) and kept a "neutral" rating; the stock's consensus rating is "Reduce" with an average price target of $8.75.
• Q1 results showed an EPS miss (reported ($1.17) vs. ($1.01) expected) and revenue down 20.4% year‑over‑year, leaving negative margins and analysts projecting about -$1.28 EPS for the year.
• The shares traded at $7.91, near the 52‑week low, with a market cap around $322 million and roughly 97% of the stock held by institutional investors.

Wabash National (NYSE:WNC - Get Free Report) had its price target dropped by research analysts at DA Davidson from $11.00 to $8.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's price target would indicate a potential upside of 7.45% from the stock's current price.

A number of other analysts have also recently issued reports on WNC. Weiss Ratings raised Wabash National from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday. Zacks Research raised Wabash National from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Finally, Wall Street Zen cut Wabash National from a "hold" rating to a "strong sell" rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $8.75.

Wabash National Stock Performance

Shares of NYSE WNC traded up $0.31 during trading hours on Tuesday, reaching $7.91. The stock had a trading volume of 479,535 shares, compared to its average volume of 641,743. The firm has a market cap of $321.74 million, a price-to-earnings ratio of -4.96 and a beta of 1.61. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55. Wabash National has a fifty-two week low of $7.10 and a fifty-two week high of $12.94. The firm has a 50-day moving average of $9.05 and a 200-day moving average of $9.27.

Wabash National (NYSE:WNC - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.16). The firm had revenue of $303.23 million during the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The firm's revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period last year, the company earned ($0.58) earnings per share. Equities research analysts predict that Wabash National will post -1.28 earnings per share for the current year.

Institutional Trading of Wabash National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Wabash National by 0.5% during the 4th quarter. Invesco Ltd. now owns 172,931 shares of the company's stock valued at $1,496,000 after acquiring an additional 941 shares during the last quarter. Deutsche Bank AG raised its stake in Wabash National by 6.9% during the 4th quarter. Deutsche Bank AG now owns 31,618 shares of the company's stock valued at $273,000 after acquiring an additional 2,052 shares during the last quarter. Raymond James Financial Inc. raised its stake in Wabash National by 12.6% during the 2nd quarter. Raymond James Financial Inc. now owns 18,519 shares of the company's stock valued at $197,000 after acquiring an additional 2,078 shares during the last quarter. Man Group plc raised its stake in Wabash National by 4.4% during the 3rd quarter. Man Group plc now owns 53,556 shares of the company's stock valued at $529,000 after acquiring an additional 2,235 shares during the last quarter. Finally, CWM LLC raised its stake in Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company's stock valued at $53,000 after acquiring an additional 2,758 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

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.

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