Wabash National (NYSE:WNC) Hits New 1-Year High - Here's Why

Wabash National Corporation (NYSE:WNC - Get Free Report)'s stock price reached a new 52-week high during trading on Monday. The company traded as high as $14.48 and last traded at $14.46, with a volume of 232874 shares traded. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citizens Jmp began coverage on Wabash National in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 price target on the stock. DA Davidson reissued a "buy" rating and issued a $20.00 target price on shares of Wabash National in a report on Tuesday, September 22nd. National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. Weiss Ratings restated 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 research report on Saturday, August 1st. Two equities research 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.67.

Wabash National Trading Up 3.1%

The company has a market capitalization of $589.92 million, a P/E ratio of -7.49 and a beta of 1.48. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a fifty day moving average of $12.68 and a 200 day moving average of $10.74.

Wabash National (NYSE:WNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03. Wabash National had a negative return on equity of 36.59% and a negative net margin of 5.48%.The business had revenue of $417.24 million during the quarter, compared to analyst estimates of $402.85 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Wabash National's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Wabash National Corporation will post -2.41 EPS for the current fiscal year.

Wabash National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a yield of 2.2%. Wabash National's dividend payout ratio (DPR) is presently -16.58%.

Hedge Funds Weigh In On Wabash National

A number of hedge funds have recently modified their holdings of WNC. Allworth Financial LP purchased a new stake in shares of Wabash National during the 2nd quarter valued at about $45,000. Legal & General Group Plc purchased a new position in Wabash National in the second quarter worth about $52,000. Inspire Investing LLC increased its stake in Wabash National by 9.4% during the first quarter. Inspire Investing LLC now owns 59,404 shares of the company's stock worth $512,000 after acquiring an additional 5,102 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Wabash National by 36.9% in the 2nd quarter. Squarepoint Ops LLC now owns 20,647 shares of the company's stock valued at $279,000 after purchasing an additional 5,569 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Wabash National in the 2nd quarter valued at approximately $91,000. 97.05% of the stock is currently owned by institutional investors.

Wabash National Company Profile

Wabash National Corporation NYSE: WNC is a North American manufacturer of transportation equipment and related products. The company designs and produces equipment used to move freight across highways, including dry van trailers, refrigerated trailers, platform trailers, tank trailers and truck-mounted tanks.

Wabash National also manufactures composite panels, flooring systems and other structural components used in trailers and truck bodies. Its products incorporate technologies such as the DuraPlate composite system, which is designed to provide durable, lightweight trailer construction.

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.