DA Davidson Reiterates "Buy" Rating for Wabash National (NYSE:WNC)

Key Points

• DA Davidson reiterated its “Buy” rating on Wabash National and set a $20 price target, implying 67.63% upside from the stock’s $11.93 price. Overall, analysts’ consensus rating remains “Hold,” with a $21.67 average target.
• Wabash National’s latest quarter showed a 9.1% year-over-year revenue decline to $417.24 million, though its $0.53 adjusted loss per share was slightly better than estimates. Analysts expect a loss of $2.41 per share for the current fiscal year.
• Institutional investors and hedge funds own approximately 97.05% of the company, while the stock remains under pressure with negative net margin and return on equity.

Wabash National (NYSE:WNC - Get Free Report)'s stock had its "buy" rating restated by research analysts at DA Davidson in a research note issued on Monday,Benzinga reports. They presently have a $20.00 target price on the stock. DA Davidson's price target suggests a potential upside of 67.63% from the stock's current price.

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

Wabash National Stock Down 0.7%

NYSE:WNC traded down $0.09 on Monday, hitting $11.93. 113,811 shares of the company's stock were exchanged, compared to its average volume of 843,885. Wabash National has a 52 week low of $6.63 and a 52 week high of $14.32. The company has a market cap of $486.07 million, a P/E ratio of -6.18 and a beta of 1.44. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a 50-day moving average price of $12.60 and a 200-day moving average price of $10.24.

Wabash National (NYSE:WNC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS 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 firm had revenue of $417.24 million during the quarter, compared to analysts' expectations of $402.85 million. During the same quarter last year, the company posted ($0.15) earnings per share. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, analysts expect that Wabash National will post -2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Wabash National

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Wabash National by 0.5% in the 4th quarter. Invesco Ltd. now owns 172,931 shares of the company's stock worth $1,496,000 after acquiring an additional 941 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of 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 purchasing an additional 2,052 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of 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 purchasing an additional 2,078 shares during the last quarter. Man Group plc raised its position in Wabash National by 4.4% in the 3rd quarter. Man Group plc now owns 53,556 shares of the company's stock worth $529,000 after purchasing an additional 2,235 shares during the period. Finally, CWM LLC raised its position in Wabash National by 82.6% in the 4th quarter. CWM LLC now owns 6,099 shares of the company's stock worth $53,000 after purchasing an additional 2,758 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source