Wabash National (NYSE:WNC) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Wabash National (NYSE:WNC) from a hold rating to a strong sell rating in a report released on Saturday.

Several other brokerages have also issued reports on WNC. DA Davidson reaffirmed a “neutral” rating and set a $11.00 price target on shares of Wabash National in a research note on Thursday, February 19th. Zacks Research upgraded Wabash National from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings upgraded shares of Wabash National from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.00.

Wabash National Trading Down 6.6%

Shares of Wabash National stock opened at $10.84 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.39 and a quick ratio of 0.79. Wabash National has a 1 year low of $6.78 and a 1 year high of $12.94. The firm has a market cap of $438.33 million, a PE ratio of 2.23 and a beta of 1.67. The company has a 50 day simple moving average of $10.22 and a two-hundred day simple moving average of $9.81.

Wabash National (NYSE:WNC) last posted its quarterly earnings data on Wednesday, February 4th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.16). Wabash National had a net margin of 13.71% and a negative return on equity of 22.79%. The company had revenue of $321.45 million for the quarter, compared to analysts’ expectations of $318.32 million. During the same quarter last year, the business posted ($0.02) EPS. The business’s quarterly revenue was down 22.9% compared to the same quarter last year. Analysts expect that Wabash National will post 0.94 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, April 2nd. Wabash National’s dividend payout ratio (DPR) is 6.57%.

Institutional Trading of Wabash National

A number of institutional investors have recently modified their holdings of WNC. CANADA LIFE ASSURANCE Co purchased a new position in Wabash National during the 4th quarter valued at about $37,000. PNC Financial Services Group Inc. grew its position in shares of Wabash National by 55.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,710 shares of the company’s stock worth $39,000 after buying an additional 1,331 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Wabash National by 515.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock valued at $47,000 after buying an additional 4,530 shares during the period. CWM LLC increased its stake in shares of Wabash National by 82.6% during the fourth quarter. CWM LLC now owns 6,099 shares of the company’s stock valued at $53,000 after buying an additional 2,758 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Wabash National during the third quarter valued at approximately $73,000. 97.05% of the stock is currently owned by hedge funds and other 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.