Wabash National (NYSE:WNC) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Wabash National shares saw elevated trading activity, with about 738,529 shares changing hands as the stock slipped to $12.31 from $12.64 in the prior close.
• Analyst sentiment is mixed but leaning cautious-to-positive: recent ratings include an outperform from Citizens JMP and a buy from DA Davidson, while the overall consensus remains Hold with an average target price of $18.00.
• Recent financial results were weak, as the company reported a wider-than-expected quarterly loss of $1.17 per share and revenue of $303.23 million, down 20.4% year over year; it also announced a quarterly dividend of $0.08 per share.

Shares of Wabash National Corporation (NYSE:WNC - Get Free Report) saw an uptick in trading volume on Thursday . Approximately 738,529 shares were traded during trading, a decline of 3% from the previous session's volume of 761,314 shares.The stock last traded at $12.31 and had previously closed at $12.64.

Wall Street Analyst Weigh In

Several research firms have recently commented on WNC. Citizens Jmp initiated coverage on Wabash National in a research report on Wednesday. They issued an "outperform" rating and a $25.00 target price on the stock. Weiss Ratings cut Wabash National from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, May 15th. Wall Street Zen downgraded Wabash National from a "sell" rating to a "strong sell" rating in a research note on Sunday. Finally, DA Davidson raised Wabash National from a "neutral" rating to a "buy" rating and upped their price objective for the company from $8.50 to $20.00 in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.00.

Wabash National Price Performance

The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 1.55. The company's fifty day moving average price is $9.88 and its 200 day moving average price is $9.70. The company has a market capitalization of $507.86 million, a P/E ratio of -7.78 and a beta of 1.43.

Wabash National (NYSE:WNC - Get Free Report) last issued 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 company had revenue of $303.23 million during the quarter, compared to the consensus estimate of $319.03 million. During the same quarter last year, the firm posted ($0.58) earnings per share. The company's quarterly revenue was down 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Wabash National Corporation will post -1.75 EPS for the current year.

Wabash National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Wabash National's dividend payout ratio is -20.00%.

Institutional Investors Weigh In On Wabash National

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Wabash National by 39.6% in the 1st quarter. Bank of America Corp DE now owns 220,248 shares of the company's stock valued at $1,899,000 after buying an additional 62,519 shares during the period. Royal Bank of Canada increased its stake in Wabash National by 1,036.0% in the first quarter. Royal Bank of Canada now owns 50,621 shares of the company's stock valued at $436,000 after acquiring an additional 46,165 shares during the last quarter. Empowered Funds LLC raised its position in Wabash National by 40.1% during the first quarter. Empowered Funds LLC now owns 589,884 shares of the company's stock valued at $5,085,000 after purchasing an additional 168,929 shares in the last quarter. Quantinno Capital Management LP raised its position in Wabash National by 17.1% during the first quarter. Quantinno Capital Management LP now owns 174,796 shares of the company's stock valued at $1,507,000 after purchasing an additional 25,483 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Wabash National by 13.2% during the first quarter. Renaissance Technologies LLC now owns 224,365 shares of the company's stock worth $1,934,000 after purchasing an additional 26,100 shares during the last quarter. 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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