Wabash National (NYSE:WNC) Shares Up 8.1% - Should You Buy?

Key Points

• Wabash National shares rose 8.1% to about $12.66, though trading volume was 83% below the average session level.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” and an average price target of $21.67, with targets ranging from $20 to $25.
• The company reported a quarterly loss of $0.53 per share, while revenue fell 9.1% year over year to $417.24 million. Wabash also declared an $0.08 quarterly dividend, yielding approximately 2.5%, and institutional investors own 97.05% of its shares.

Wabash National Corporation (NYSE:WNC - Get Free Report)'s stock price traded up 8.1% on Friday. The company traded as high as $12.99 and last traded at $12.6580. 143,200 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 821,903 shares. The stock had previously closed at $11.71.

Wall Street Analysts Forecast Growth

WNC has been the subject of a number of recent research reports. National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. DA Davidson reaffirmed a "buy" rating and issued a $20.00 price target on shares of Wabash National in a research note on Tuesday. Wall Street Zen upgraded shares of Wabash National from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Wabash National in a research report on Wednesday, August 12th. Finally, Citizens Jmp began coverage on Wabash National in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $21.67.

Wabash National Stock Up 7.5%

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 firm has a 50 day simple moving average of $12.75 and a 200-day simple moving average of $10.56. The stock has a market cap of $512.88 million, a P/E ratio of -6.49 and a beta of 1.45.

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

Wabash National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.32 annualized dividend and a yield of 2.5%. Wabash National's dividend payout ratio (DPR) is currently -16.58%.

Institutional Investors Weigh In On Wabash National

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Wabash National during the second quarter valued at approximately $47,125,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Wabash National in the second quarter worth $9,812,434. Bank of New York Mellon Corp purchased a new stake in Wabash National in the second quarter worth $6,151,000. Bank of America Corp DE bought a new stake in Wabash National in the second quarter valued at $4,755,000. Finally, Heartland Advisors Inc. purchased a new position in Wabash National during the 2nd quarter valued at $4,001,000. Institutional investors own 97.05% of the company's stock.

Wabash National Company Profile

Wabash National Corporation NYSE: WNC is a manufacturer of transportation and logistics equipment based in Lafayette, Indiana. Founded in 1985, the company serves customers across North America, including trucking fleets, freight carriers, food and beverage companies, retailers, and industrial businesses.

Its products include dry van trailers, refrigerated trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also manufactures composite panels and other structural components used in transportation and related applications.

In addition to original equipment, Wabash provides aftermarket parts, repair, maintenance, and related services through its distribution and service operations.

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