Wabash National (NYSE:WNC) Rating Increased to Buy at StockNews.com

Wabash National (NYSE:WNC - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Wabash National Stock Performance

NYSE:WNC traded down $0.87 during trading hours on Thursday, reaching $25.03. 513,372 shares of the stock were exchanged, compared to its average volume of 601,989. The company has a quick ratio of 1.17, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $27.41 and a 200-day simple moving average of $24.78. Wabash National has a 52 week low of $20.09 and a 52 week high of $30.07. The stock has a market capitalization of $1.13 billion, a P/E ratio of 5.38 and a beta of 1.58.

Wabash National (NYSE:WNC - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.18. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. The business had revenue of $596.10 million for the quarter, compared to analysts' expectations of $633.68 million. During the same period in the prior year, the firm earned $0.84 EPS. The business's quarterly revenue was down 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Wabash National will post 2.19 earnings per share for the current fiscal year.

Insider Activity at Wabash National

In related news, Director Priyadarshi Sudhanshu sold 1,010 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the sale, the director now directly owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Larry J. Magee sold 3,086 shares of Wabash National stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total transaction of $81,779.00. Following the transaction, the director now directly owns 114,146 shares in the company, valued at approximately $3,024,869. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at $172,805.16. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Wabash National

Large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. bought a new stake in shares of Wabash National during the 3rd quarter worth $1,595,000. AQR Capital Management LLC boosted its stake in shares of Wabash National by 12.7% during the 3rd quarter. AQR Capital Management LLC now owns 547,322 shares of the company's stock worth $11,559,000 after acquiring an additional 61,887 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Wabash National by 99.0% during the 3rd quarter. American Century Companies Inc. now owns 264,288 shares of the company's stock worth $5,582,000 after acquiring an additional 131,512 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Wabash National by 143.4% during the 3rd quarter. Quantbot Technologies LP now owns 38,185 shares of the company's stock worth $806,000 after acquiring an additional 22,495 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wabash National by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company's stock worth $12,525,000 after acquiring an additional 49,443 shares in the last quarter. 97.05% of the stock is owned by institutional investors.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.