DA Davidson Trims Wabash National (NYSE:WNC) Target Price to $18.00

Wabash National (NYSE:WNC) had its price target lowered by DA Davidson from $23.00 to $18.00 in a research report sent to investors on Monday, Marketbeat.com reports. DA Davidson currently has a neutral rating on the stock.

Wabash National Stock Performance

Shares of WNC opened at $18.66 on Monday. Wabash National has a 1 year low of $17.71 and a 1 year high of $30.07. The company’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $23.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.99. The company has a market capitalization of $840.13 million, a price-to-earnings ratio of 4.49 and a beta of 1.53.

Wabash National (NYSE:WNC) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $550.61 million during the quarter, compared to analysts’ expectations of $594.77 million. Wabash National had a net margin of 6.66% and a return on equity of 28.24%. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 EPS. On average, sell-side analysts predict that Wabash National will post 1.53 EPS for the current year.

Wabash National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.71%. Wabash National’s payout ratio is currently 7.69%.

Institutional Trading of Wabash National

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in Wabash National by 61.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $38,000 after buying an additional 565 shares in the last quarter. Innealta Capital LLC acquired a new stake in Wabash National during the 2nd quarter worth approximately $33,000. Point72 Hong Kong Ltd bought a new position in Wabash National in the second quarter valued at $34,000. Tradewinds Capital Management LLC bought a new position in shares of Wabash National during the 1st quarter worth approximately $48,000. Finally, CWM LLC increased its stake in Wabash National by 353.5% during the 2nd quarter. CWM LLC now owns 2,272 shares of the company’s stock worth $50,000 after acquiring an additional 1,771 shares during the period. 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.