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S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)

Wabash National (NYSE:WNC) Reaches New 12-Month High on Analyst Upgrade

Friday, January 14, 2022 | MarketBeat

Wabash National Co. (NYSE:WNC) shares reached a new 52-week high on Friday after Raymond James raised their price target on the stock from $22.00 to $24.00. Raymond James currently has a strong-buy rating on the stock. Wabash National traded as high as $21.55 and last traded at $21.55, with a volume of 12577 shares changing hands. The stock had previously closed at $20.76.

A number of other equities analysts have also weighed in on WNC. DA Davidson initiated coverage on shares of Wabash National in a research report on Friday, December 17th. They set a "buy" rating and a $25.00 target price for the company. TheStreet upgraded shares of Wabash National from a "c+" rating to a "b" rating in a research report on Friday, October 22nd. Finally, Zacks Investment Research upgraded shares of Wabash National from a "hold" rating to a "buy" rating and set a $22.00 target price for the company in a research report on Saturday, January 8th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Wabash National currently has an average rating of "Buy" and a consensus price target of $21.67.

In related news, CEO Brent L. Yeagy sold 1,836 shares of the firm's stock in a transaction that occurred on Wednesday, December 1st. The shares were sold at an average price of $17.15, for a total value of $31,487.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brent L. Yeagy sold 10,178 shares of the firm's stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $20.00, for a total transaction of $203,560.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,222 shares of company stock worth $351,863. Insiders own 1.12% of the company's stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Wabash National by 0.7% in the second quarter. Vanguard Group Inc. now owns 6,601,980 shares of the company's stock valued at $105,631,000 after purchasing an additional 43,770 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Wabash National by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,244,778 shares of the company's stock valued at $49,095,000 after purchasing an additional 24,986 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Wabash National by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 2,984,733 shares of the company's stock valued at $47,756,000 after purchasing an additional 153,506 shares in the last quarter. State Street Corp raised its stake in Wabash National by 2.4% in the second quarter. State Street Corp now owns 1,762,962 shares of the company's stock valued at $28,207,000 after purchasing an additional 40,822 shares in the last quarter. Finally, Towle & Co. raised its stake in shares of Wabash National by 41.8% during the third quarter. Towle & Co. now owns 1,465,392 shares of the company's stock worth $22,171,000 after acquiring an additional 431,609 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market capitalization of $1.07 billion, a PE ratio of 34.26 and a beta of 1.69. The firm's 50 day simple moving average is $18.76 and its 200 day simple moving average is $16.37. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.02 and a quick ratio of 1.12.

Wabash National (NYSE:WNC) last posted its quarterly earnings results on Tuesday, November 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $482.57 million for the quarter, compared to the consensus estimate of $517.23 million. Wabash National had a net margin of 1.85% and a return on equity of 7.76%. The business's revenue was up 37.3% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Analysts expect that Wabash National Co. will post 0.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 27th. Shareholders of record on Thursday, January 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, January 5th. Wabash National's dividend payout ratio (DPR) is presently 51.61%.

Wabash National Company Profile (NYSE:WNC)

Wabash National Corp. engages in the design, manufacture and market of semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. It operates through the following segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures van and platform trailers and other transportation related equipment to customers who purchase directly from the Company or through independent dealers.

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