Wabash National (NYSE:WNC) Receives "Buy" Rating from DA Davidson

Key Points

• DA Davidson reiterated its Buy rating on Wabash National and kept a $20 price target, implying roughly 48% upside from the current share price.
• Other analysts are mixed on the stock: Citizens JMP started coverage with an Outperform rating, while Weiss Ratings and Wall Street Zen issued lower ratings. Overall, MarketBeat data shows a Hold consensus with an average target of $18.
• Wabash National reported a weaker-than-expected quarter, with EPS of -$1.17 and revenue of $303.2 million, both missing estimates, while revenue fell 20.4% year over year.

Wabash National (NYSE:WNC - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock. DA Davidson's target price points to a potential upside of 48.48% from the stock's current price.

Several other research firms have also commented on WNC. Weiss Ratings lowered shares of Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Wabash National from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Finally, Citizens Jmp initiated coverage on shares of Wabash National in a report on Wednesday, July 15th. They issued an "outperform" rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Wabash National presently has a consensus rating of "Hold" and an average price target of $18.00.

Wabash National Trading Down 0.3%

WNC stock traded down $0.04 during midday trading on Wednesday, reaching $13.47. 272,679 shares of the company traded hands, compared to its average volume of 811,118. Wabash National has a 52-week low of $6.63 and a 52-week high of $14.32. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.77 and a current ratio of 1.33. The business has a 50 day moving average of $10.35 and a 200-day moving average of $9.82. The firm has a market capitalization of $547.88 million, a price-to-earnings ratio of -8.43 and a beta of 1.43.

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

Hedge Funds Weigh In On Wabash National

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Wabash National by 93.9% in the first quarter. Royal Bank of Canada now owns 30,789 shares of the company's stock worth $339,000 after purchasing an additional 14,912 shares during the period. AQR Capital Management LLC increased its stake in Wabash National by 59.1% in the 1st quarter. AQR Capital Management LLC now owns 224,734 shares of the company's stock worth $2,483,000 after buying an additional 83,473 shares during the period. Millennium Management LLC increased its stake in Wabash National by 864.3% in the 1st quarter. Millennium Management LLC now owns 459,547 shares of the company's stock worth $5,078,000 after buying an additional 411,889 shares during the period. Caxton Associates LLP bought a new stake in Wabash National during the 1st quarter valued at about $166,000. Finally, Empowered Funds LLC lifted its holdings in Wabash National by 4.2% during the 1st quarter. Empowered Funds LLC now owns 202,429 shares of the company's stock valued at $2,237,000 after buying an additional 8,205 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company's stock.

About Wabash National

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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