Wabash National (NYSE:WNC) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Wabash National from “sell” to “strong sell”, adding to a mixed analyst outlook on the stock.
• Other firms remain split: DA Davidson upgraded the shares to buy and lifted its price target to $20, while MarketBeat says the overall consensus rating is still Hold with a $14.50 target.
• Wabash National recently reported weaker-than-expected quarterly results, with an EPS loss of $(1.17) versus an expected $(1.01) and revenue down 20.4% year over year.

Wabash National (NYSE:WNC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday.

A number of other analysts have also commented on the company. DA Davidson upgraded Wabash National from a "neutral" rating to a "buy" rating and boosted their price target for the company from $8.50 to $20.00 in a report on Wednesday, June 17th. Weiss Ratings cut shares of Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.50.

Wabash National Price Performance

Shares of Wabash National stock traded up $0.56 during trading on Friday, reaching $12.92. The company's stock had a trading volume of 578,175 shares, compared to its average volume of 988,963. Wabash National has a one year low of $6.63 and a one year high of $14.32. The stock has a 50-day moving average price of $9.58 and a two-hundred day moving average price of $9.61. The stock has a market capitalization of $525.42 million, a P/E ratio of -8.07 and a beta of 1.43. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55.

Wabash National (NYSE:WNC - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.16). Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. The firm had revenue of $303.23 million during the quarter, compared to the consensus estimate of $319.03 million. During the same quarter in the prior year, the business earned ($0.58) EPS. Wabash National's revenue was down 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wabash National will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Wabash National

A number of hedge funds have recently modified their holdings of WNC. CANADA LIFE ASSURANCE Co bought a new stake in Wabash National in the fourth quarter valued at approximately $37,000. Quadrant Capital Group LLC increased its holdings in shares of Wabash National by 515.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company's stock valued at $47,000 after acquiring an additional 4,530 shares in the last quarter. CWM LLC increased its stake in Wabash National by 82.6% during the 4th quarter. CWM LLC now owns 6,099 shares of the company's stock valued at $53,000 after purchasing an additional 2,758 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Wabash National by 104.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company's stock worth $80,000 after acquiring an additional 4,129 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Wabash National in the third quarter worth approximately $102,000. Institutional investors and hedge funds own 97.05% of the company's stock.

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.

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