Wabash National (NYSE:WNC) Hits New 52-Week High - Still a Buy?

Key Points

• Wabash National shares reached a new 52-week high of $14.42 before trading around $13.38, down 4.4% from the prior close. The stock’s 50-day and 200-day moving averages were $12.88 and $10.33, respectively.
• Analyst views remain mixed, with two Buy ratings, one Hold and one Sell; the consensus rating is Hold, with an average price target of $21.67.
• The company reported a quarterly loss of $0.53 per share on $417.2 million in revenue, while declaring a quarterly dividend of $0.08, equivalent to a 2.4% annual yield. Institutional investors own approximately 97.05% of the shares.

Wabash National Corporation (NYSE:WNC - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $14.42 and last traded at $13.3780, with a volume of 23816 shares. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

WNC has been the subject of a number of recent research reports. Citizens Jmp initiated coverage on Wabash National in a report on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 target price for the company. National Bank Financial set a $20.00 price target on Wabash National in a research note on Wednesday, August 12th. DA Davidson reiterated a "buy" rating and set a $20.00 price objective on shares of Wabash National in a research note on Monday, August 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wabash National in a report 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 issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.67.

Wabash National Stock Down 4.4%

The firm has a fifty day moving average price of $12.88 and a 200 day moving average price of $10.33. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 1.75. The company has a market cap of $553.86 million, a P/E ratio of -7.03 and a beta of 1.44.

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 analysts' consensus estimates 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 analysts' expectations of $402.85 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts forecast that Wabash National Corporation will post -2.41 earnings per share for the current year.

Wabash National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.4%. Wabash National's dividend payout ratio (DPR) is currently -16.58%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co bought a new stake in shares of Wabash National during the fourth quarter worth $37,000. Allworth Financial LP bought a new position in shares of Wabash National in the 2nd quarter valued at about $45,000. Quadrant Capital Group LLC grew its position in shares of 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 during the period. Legal & General Group Plc acquired a new stake in shares of Wabash National during the 2nd quarter worth approximately $52,000. Finally, CWM LLC raised its stake in shares of Wabash National by 82.6% during the fourth quarter. CWM LLC now owns 6,099 shares of the company's stock worth $53,000 after buying an additional 2,758 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

Wabash National Company 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.

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.