Wabash National (NYSE:WNC) Downgraded by ValuEngine to “Strong Sell”

ValuEngine downgraded shares of Wabash National (NYSE:WNC) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning, ValuEngine reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Wabash National from a buy rating to a hold rating in a research report on Saturday, October 5th. Craig Hallum lowered shares of Wabash National from a buy rating to a hold rating and set a $18.00 price objective on the stock. in a research report on Wednesday, July 31st. Finally, BMO Capital Markets set a $14.00 price objective on shares of Wabash National and gave the stock a hold rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.67.

Shares of NYSE WNC traded up $0.23 during mid-day trading on Monday, hitting $14.91. 4,721 shares of the company’s stock traded hands, compared to its average volume of 331,274. The company’s 50-day moving average is $14.18 and its two-hundred day moving average is $14.67. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.92 and a quick ratio of 1.09. The company has a market capitalization of $787.44 million, a P/E ratio of 10.23 and a beta of 2.06. Wabash National has a 1 year low of $12.25 and a 1 year high of $16.70.

Wabash National (NYSE:WNC) last announced its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.07. The firm had revenue of $626.05 million for the quarter, compared to analysts’ expectations of $613.36 million. Wabash National had a net margin of 2.67% and a return on equity of 17.36%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Equities analysts anticipate that Wabash National will post 1.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, October 2nd. Wabash National’s dividend payout ratio (DPR) is presently 22.22%.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Wabash National by 23.5% during the second quarter. JPMorgan Chase & Co. now owns 3,844,219 shares of the company’s stock valued at $61,815,000 after purchasing an additional 732,452 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Wabash National by 110.8% during the second quarter. Prudential Financial Inc. now owns 1,096,533 shares of the company’s stock valued at $17,841,000 after purchasing an additional 576,463 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Wabash National during the second quarter valued at approximately $7,899,000. Renaissance Technologies LLC boosted its stake in shares of Wabash National by 58.6% during the second quarter. Renaissance Technologies LLC now owns 1,060,200 shares of the company’s stock valued at $17,249,000 after purchasing an additional 391,900 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Wabash National by 1.9% during the second quarter. BlackRock Inc. now owns 8,373,808 shares of the company’s stock valued at $136,243,000 after purchasing an additional 154,987 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

About Wabash National

Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.

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Analyst Recommendations for Wabash National (NYSE:WNC)

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