Wabash National (NYSE:WNC) Stock Price Up 8.9% – Still a Buy?

Wabash National Corporation (NYSE:WNC) traded up 8.9% during mid-day trading on Friday. The stock traded as high as $13.57 and last traded at $13.5740. 330,042 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 838,839 shares. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WNC shares. DA Davidson reissued a “buy” rating and set a $20.00 price objective on shares of Wabash National in a research note on Tuesday, September 22nd. National Bank Financial set a $20.00 target price on Wabash National in a research report on Wednesday, August 12th. Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 target price for the company. Wall Street Zen upgraded Wabash National from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Wabash National in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.67.

Wabash National Stock Up 10.5%

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market cap of $560.75 million, a price-to-earnings ratio of -7.15 and a beta of 1.48. The business’s 50 day moving average is $12.66 and its 200 day moving average is $10.70.

Wabash National (NYSE:WNC) last announced its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03. The company had revenue of $417.24 million for the quarter, compared to the consensus estimate of $402.85 million. Wabash National had a negative net margin of 5.48% and a negative return on equity of 36.59%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. Equities analysts expect that Wabash National Corporation will post -2.41 earnings per share for the current year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 8th. Wabash National’s payout ratio is presently -16.58%.

Institutional Investors Weigh In On Wabash National

A number of institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC increased its holdings in shares of Wabash National by 36.9% in the 2nd quarter. Squarepoint Ops LLC now owns 20,647 shares of the company’s stock valued at $279,000 after purchasing an additional 5,569 shares during the period. AXQ Capital LP purchased a new position in Wabash National during the second quarter valued at approximately $337,000. Empowered Funds LLC purchased a new position in Wabash National during the second quarter valued at approximately $1,999,000. Jefferies Financial Group Inc. acquired a new position in Wabash National in the 2nd quarter valued at approximately $1,038,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Wabash National in the 2nd quarter valued at approximately $998,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

About Wabash National

Wabash National Corporation (NYSE:WNC) is a manufacturer of transportation and logistics equipment based in Lafayette, Indiana. Founded in 1985, the company serves customers across North America, including trucking fleets, freight carriers, food and beverage companies, retailers, and industrial businesses.

Its products include dry van trailers, refrigerated trailers, platform trailers, truck-mounted tanks, and other specialized transportation equipment. Wabash also manufactures composite panels and other structural components used in transportation and related applications.

In addition to original equipment, Wabash provides aftermarket parts, repair, maintenance, and related services through its distribution and service operations.