Wabash National (NYSE:WNC) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Wabash National's stock price has surpassed its 200-day moving average, indicating a potential bullish trend, as it traded at $10.61 with a high of $10.70 on Tuesday.
• DA Davidson has increased its price target for Wabash National from $7.50 to $9.50 and maintains a "neutral" rating for the stock.
• The company recently declared a quarterly dividend of $0.08 per share, representing a 3.0% annualized yield, despite having a negative dividend payout ratio of -13.22%.

Shares of Wabash National Corporation (NYSE:WNC - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.70 and traded as high as $10.70. Wabash National shares last traded at $10.61, with a volume of 648,529 shares traded.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their price target on shares of Wabash National from $7.50 to $9.50 and gave the stock a "neutral" rating in a research note on Monday, June 23rd.

Wabash National Stock Down 1.2%

The company's 50 day moving average price is $10.45 and its two-hundred day moving average price is $10.60. The firm has a market cap of $437.65 million, a PE ratio of -4.42 and a beta of 1.65. 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 (NYSE:WNC - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.16. The company had revenue of $458.82 million for the quarter, compared to analysts' expectations of $435.75 million. Wabash National had a negative net margin of 6.38% and a negative return on equity of 7.91%. Wabash National's revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities research analysts expect that Wabash National Corporation will post 0.94 EPS for the current fiscal year.

Institutional Trading of Wabash National

Institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. bought a new stake in Wabash National in the 1st quarter valued at $333,000. GAMMA Investing LLC increased its holdings in shares of Wabash National by 982.1% in the 1st quarter. GAMMA Investing LLC now owns 7,683 shares of the company's stock worth $85,000 after buying an additional 6,973 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Wabash National by 69.9% in the 1st quarter. Allianz Asset Management GmbH now owns 192,398 shares of the company's stock worth $2,126,000 after buying an additional 79,186 shares during the last quarter. VELA Investment Management LLC bought a new stake in shares of Wabash National in the 1st quarter worth about $1,420,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Wabash National during the 1st quarter worth about $671,000. 97.05% of the stock is currently owned by 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.