Wabash National (NYSE:WNC) Stock Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Wabash National shares climbed above their 200-day moving average, reaching $13.23 compared with the $11.03 average, and last traded near $12.94.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $21.67; individual ratings range from Sell to Buy.
• The company reported a quarterly loss of $0.53 per share on $417.2 million in revenue, while maintaining a $0.08 quarterly dividend yielding about 2.5%. Institutional investors own approximately 97% of the stock.

Wabash National Corporation (NYSE:WNC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $11.03 and traded as high as $13.23. Wabash National shares last traded at $12.9380, with a volume of 488,617 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Wabash National in a report on Wednesday, August 12th. Citizens Jmp started 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. DA Davidson reiterated a "buy" rating and issued a $20.00 target price on shares of Wabash National in a research note on Tuesday, September 22nd. Wall Street Zen upgraded Wabash National from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. 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 company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $21.67.

Wabash National Stock Performance

The company's fifty day moving average price is $12.81 and its two-hundred day moving average price is $11.03. 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 firm has a market capitalization of $527.09 million, a PE ratio of -6.70 and a beta of 1.48.

Wabash National (NYSE:WNC - Get Free Report) last released its 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 net margin of 5.48% and a negative return on equity of 36.59%. The firm had revenue of $417.24 million during the quarter, compared to the consensus estimate of $402.85 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Wabash National's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts expect that Wabash National Corporation will post -2.41 earnings per share for the current year.

Wabash National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders 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 dividend yield of 2.5%. Wabash National's payout ratio is currently -16.58%.

Institutional Trading of Wabash National

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in Wabash National during the second quarter worth about $4,755,000. Sei Investments Co. raised its holdings in shares of Wabash National by 46.4% in the 1st quarter. Sei Investments Co. now owns 456,328 shares of the company's stock worth $3,934,000 after purchasing an additional 144,711 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Wabash National by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company's stock worth $14,291,000 after purchasing an additional 247,345 shares during the period. Heartland Advisors Inc. acquired a new position in shares of Wabash National in the 2nd quarter valued at about $4,001,000. Finally, Womack Financial LLC acquired a new position in shares of Wabash National in the 2nd quarter valued at about $3,369,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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