Wabash National (NYSE:WNC) Shares Gap Down to $25.75

Wabash National Co. (NYSE:WNC)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $25.75, but opened at $24.50. Wabash National shares last traded at $25.08, with a volume of 117,582 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded Wabash National from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

Wabash National Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 5.08 and a beta of 1.58. The company has a 50-day moving average price of $27.38 and a 200-day moving average price of $24.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.17 and a current ratio of 1.93.

Wabash National (NYSE:WNC) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.18. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. The business had revenue of $596.10 million for the quarter, compared to analysts’ expectations of $633.68 million. During the same quarter in the previous year, the business posted $0.84 EPS. Wabash National’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities research analysts expect that Wabash National Co. will post 2.19 EPS for the current fiscal year.

Wabash National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, April 4th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, April 3rd. Wabash National’s dividend payout ratio (DPR) is presently 6.65%.

Insider Activity

In other news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the transaction, the director now owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Priyadarshi Sudhanshu sold 1,010 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the completion of the transaction, the director now directly owns 6,386 shares in the company, valued at $172,805.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry J. Magee sold 3,086 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total value of $81,779.00. Following the completion of the sale, the director now owns 114,146 shares in the company, valued at approximately $3,024,869. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wabash National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC bought a new position in shares of Wabash National in the 1st quarter valued at about $48,000. Wasatch Advisors LP grew its stake in Wabash National by 66.9% in the first quarter. Wasatch Advisors LP now owns 1,380,766 shares of the company’s stock valued at $41,340,000 after purchasing an additional 553,500 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Wabash National by 84.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 263,731 shares of the company’s stock worth $7,896,000 after purchasing an additional 120,919 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of Wabash National by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 169,200 shares of the company’s stock worth $5,066,000 after purchasing an additional 51,700 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Wabash National by 12.3% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 84,807 shares of the company’s stock valued at $2,173,000 after buying an additional 9,294 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors and hedge funds.

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.