Wabash National (NYSE:WNC) Shares Gap Down - Time to Sell?

Key Points

• Wabash National shares gapped down sharply before the open, falling from a prior close of $13.42 to an open of $11.94 and last trading near $12.30.
• Analyst sentiment is mixed but generally cautious-to-constructive: recent ratings changes included upgrades and downgrades, and the consensus view is currently Hold with an average price target of $18.00.
• Recent fundamentals remain weak, as the company missed earnings expectations, posted a wider-than-expected loss, and saw quarterly revenue drop 20.4% year over year.

Shares of Wabash National Corporation (NYSE:WNC - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $13.42, but opened at $11.94. Wabash National shares last traded at $12.3020, with a volume of 1,494,131 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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. Citizens Jmp initiated coverage on shares of Wabash National in a report on Wednesday. They issued an "outperform" rating and a $25.00 target price on the stock. DA Davidson upgraded shares of Wabash National from a "neutral" rating to a "buy" rating and upped their price target for the company from $8.50 to $20.00 in a report on Wednesday, June 17th. Finally, Wall Street Zen downgraded Wabash National from a "sell" rating to a "strong sell" rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.00.

Wabash National Stock Performance

The firm's 50 day moving average price is $9.78 and its 200-day moving average price is $9.67. The firm has a market cap of $494.99 million, a price-to-earnings ratio of -7.62 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77.

Wabash National (NYSE:WNC - Get Free Report) last released its earnings results on Friday, May 1st. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.16). The company had revenue of $303.23 million for the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative net margin of 4.41% and a negative return on equity of 30.16%. Wabash National's revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.58) earnings per share. On average, analysts anticipate that Wabash National Corporation will post -1.75 earnings per share for the current year.

Wabash National Dividend Announcement

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

Hedge Funds Weigh In On Wabash National

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Wabash National by 93.9% in the 1st quarter. Royal Bank of Canada now owns 30,789 shares of the company's stock worth $339,000 after acquiring an additional 14,912 shares during the period. AQR Capital Management LLC increased its position in shares of Wabash National by 59.1% during the first quarter. AQR Capital Management LLC now owns 224,734 shares of the company's stock valued at $2,483,000 after purchasing an additional 83,473 shares during the period. Millennium Management LLC raised its stake in shares of Wabash National by 864.3% in the first quarter. Millennium Management LLC now owns 459,547 shares of the company's stock valued at $5,078,000 after purchasing an additional 411,889 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Wabash National in the first quarter valued at $166,000. Finally, Empowered Funds LLC lifted its position in Wabash National by 4.2% in the first quarter. Empowered Funds LLC now owns 202,429 shares of the company's stock worth $2,237,000 after purchasing an additional 8,205 shares during the period. 97.05% of the stock is currently owned by institutional investors.

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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