Wabash National Corporation $WNC Shares Sold by Towle & Co.

Key Points

• Towle & Co. cut its Wabash National stake by 37.3% in the first quarter, selling 364,613 shares and leaving it with 613,717 shares valued at about $5.29 million.
• Wabash National reported weaker-than-expected quarterly results, with EPS of -$1.17 versus estimates of -$1.01 and revenue of $303.23 million, down 20.4% from a year ago.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $18.00, though Citizens JMP initiated coverage with an outperform rating and a $25 target.

Towle & Co. reduced its position in Wabash National Corporation (NYSE:WNC - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,717 shares of the company's stock after selling 364,613 shares during the quarter. Wabash National makes up approximately 2.0% of Towle & Co.'s portfolio, making the stock its 28th biggest position. Towle & Co. owned 1.51% of Wabash National worth $5,290,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co acquired a new position in shares of Wabash National in the fourth quarter valued at approximately $37,000. Quadrant Capital Group LLC lifted its holdings in Wabash National by 515.4% during the 4th quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company's stock worth $47,000 after buying an additional 4,530 shares in the last quarter. CWM LLC lifted its holdings in Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company's stock worth $53,000 after buying an additional 2,758 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Wabash National by 104.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company's stock valued at $80,000 after buying an additional 4,129 shares during the period. Finally, Alpine Global Management LLC purchased a new position in Wabash National in the 4th quarter valued at approximately $90,000. Institutional investors and hedge funds own 97.05% of the company's stock.

Wabash National Stock Performance

NYSE:WNC opened at $13.33 on Friday. Wabash National Corporation has a 12 month low of $6.63 and a 12 month high of $14.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77. The firm has a market capitalization of $542.21 million, a PE ratio of -8.33 and a beta of 1.43. The business's fifty day moving average price is $10.62 and its 200 day moving average price is $9.89.

Wabash National (NYSE:WNC - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.16). The business had revenue of $303.23 million for the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The company's revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.58) earnings per share. On average, sell-side analysts anticipate that Wabash National Corporation will post -1.75 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.32 annualized dividend and a yield of 2.4%. Wabash National's payout ratio is presently -20.00%.

Wall Street Analyst Weigh In

WNC has been the topic of a number of recent research reports. Citizens Jmp initiated coverage on Wabash National in a research report on Wednesday, July 15th. They set an "outperform" rating and a $25.00 price objective on the stock. Wall Street Zen cut Wabash National from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, May 15th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $20.00 target price on shares of Wabash National in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.00.

Wabash National 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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