Wabash National (NYSE:WNC) Price Target Lowered to $9.00 at DA Davidson

Key Points

• DA Davidson has lowered its price target for Wabash National from $9.50 to $9.00, maintaining a "neutral" rating, which indicates a potential upside of 9.49% from the previous close.
• Weiss Ratings has reaffirmed a "sell (d)" rating for Wabash National, reflecting a cautious sentiment among analysts, with the stock currently rated as "Reduce" overall.
• Wabash National's stock has recently traded down to $8.22, with a negative net margin of 6.38% and a forecast of $0.94 earnings per share for the current year.

Wabash National (NYSE:WNC - Get Free Report) had its price target reduced by investment analysts at DA Davidson from $9.50 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's target price would suggest a potential upside of 9.49% from the stock's previous close.

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Wabash National in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $9.00.

Wabash National Price Performance

Shares of NYSE:WNC traded down $0.44 during midday trading on Monday, hitting $8.22. 167,034 shares of the stock were exchanged, compared to its average volume of 880,547. The stock has a market cap of $336.53 million, a P/E ratio of -3.40 and a beta of 1.66. The company has a current ratio of 1.68, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13. Wabash National has a twelve month low of $6.78 and a twelve month high of $20.63. The company has a 50 day moving average price of $10.56 and a 200-day moving average price of $10.13.

Wabash National (NYSE:WNC - Get Free Report) last announced its earnings results on Wednesday, December 1st. The company reported $0.22 earnings per share for the quarter. Wabash National had a negative net margin of 6.38% and a negative return on equity of 7.91%. The firm had revenue of $482.57 million during the quarter. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. On average, research analysts forecast that Wabash National will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Wabash National

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Wabash National by 55.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company's stock worth $39,000 after buying an additional 1,331 shares during the period. SummerHaven Investment Management LLC increased its position in Wabash National by 3.7% in the second quarter. SummerHaven Investment Management LLC now owns 38,962 shares of the company's stock worth $414,000 after buying an additional 1,396 shares during the period. Raymond James Financial Inc. increased its position in Wabash National by 12.6% in the second quarter. Raymond James Financial Inc. now owns 18,519 shares of the company's stock worth $197,000 after buying an additional 2,078 shares during the period. Allworth Financial LP increased its position in Wabash National by 268.8% in the first quarter. Allworth Financial LP now owns 3,220 shares of the company's stock worth $34,000 after buying an additional 2,347 shares during the period. Finally, CWM LLC increased its position in Wabash National by 1,520.7% in the first quarter. CWM LLC now owns 5,235 shares of the company's stock worth $58,000 after buying an additional 4,912 shares during the period. 97.05% of the stock is currently owned by hedge funds and other institutional investors.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.

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