Wabash National (NYSE:WNC) Given New $9.50 Price Target at DA Davidson

Wabash National (NYSE:WNC - Free Report) had its price target lifted by DA Davidson from $7.50 to $9.50 in a research report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Wabash National Trading Up 2.0%

Shares of NYSE:WNC traded up $0.21 on Monday, hitting $10.70. 399,734 shares of the company's stock were exchanged, compared to its average volume of 792,364. The stock has a market capitalization of $447.80 million, a price-to-earnings ratio of -6.90 and a beta of 1.61. Wabash National has a 12 month low of $6.78 and a 12 month high of $24.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91. The business's 50 day simple moving average is $9.45 and its two-hundred day simple moving average is $12.34.

Wabash National (NYSE:WNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.32). The company had revenue of $380.89 million during the quarter, compared to analysts' expectations of $414.55 million. Wabash National had a positive return on equity of 3.49% and a negative net margin of 3.93%. The company's quarterly revenue was down 26.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. Analysts anticipate that Wabash National will post 0.94 EPS for the current fiscal year.

Wabash National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.32 annualized dividend and a yield of 2.99%. Wabash National's payout ratio is currently -20.65%.

Institutional Investors Weigh In On Wabash National

A number of institutional investors and hedge funds have recently bought and sold shares of WNC. Quantinno Capital Management LP raised its holdings in shares of Wabash National by 6.2% in the fourth quarter. Quantinno Capital Management LP now owns 15,420 shares of the company's stock valued at $264,000 after acquiring an additional 896 shares in the last quarter. Vident Advisory LLC increased its position in Wabash National by 7.0% during the 4th quarter. Vident Advisory LLC now owns 25,752 shares of the company's stock valued at $441,000 after purchasing an additional 1,678 shares during the period. Parallel Advisors LLC raised its holdings in shares of Wabash National by 255.9% in the 1st quarter. Parallel Advisors LLC now owns 2,395 shares of the company's stock valued at $26,000 after purchasing an additional 1,722 shares in the last quarter. Allworth Financial LP lifted its position in shares of Wabash National by 268.8% in the 1st quarter. Allworth Financial LP now owns 3,220 shares of the company's stock worth $34,000 after purchasing an additional 2,347 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Wabash National by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 210,137 shares of the company's stock valued at $3,600,000 after purchasing an additional 2,704 shares in the last quarter. 97.05% of the stock is 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.