Wabash National (NYSE:WNC) Research Coverage Started at StockNews.com

kopsource · Mar 19, 2023 15:13

StockNews.com started coverage on shares of Wabash National (NYSE:WNC – Get Rating) in a report released on Thursday. The firm issued a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Raymond James boosted their price target on shares of Wabash National from $29.00 to $33.00 and gave the company a strong-buy rating in a report on Friday, February 3rd. BMO Capital Markets boosted their price objective on shares of Wabash National from $17.00 to $27.50 in a research note on Friday, February 3rd. Vertical Research lowered shares of Wabash National from a buy rating to a hold rating and set a $27.00 price objective for the company. in a research note on Monday, December 5th. Finally, DA Davidson boosted their price objective on shares of Wabash National from $29.00 to $35.00 and gave the stock a buy rating in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wabash National currently has an average rating of Moderate Buy and a consensus target price of $28.30.

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Wabash National Trading Down 6.0 %

Shares of WNC opened at $23.03 on Thursday. Wabash National has a 1-year low of $12.23 and a 1-year high of $30.10. The company has a 50-day moving average of $26.55 and a 200 day moving average of $22.51. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 10.15 and a beta of 1.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.00.

Wabash National (NYSE:WNC – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.71 by $0.13. Wabash National had a net margin of 4.49% and a return on equity of 31.21%. The business had revenue of $657.40 million during the quarter, compared to analyst estimates of $668.58 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company's quarterly revenue was up 37.2% compared to the same quarter last year. On average, research analysts expect that Wabash National will post 2.9 EPS for the current year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 27th. Shareholders of record on Thursday, April 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, April 5th. Wabash National's dividend payout ratio is presently 14.10%.

Insiders Place Their Bets

In other Wabash National news, CFO Michael N. Pettit sold 36,020 shares of the business's stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $27.19, for a total transaction of $979,383.80. Following the sale, the chief financial officer now owns 81,474 shares of the company's stock, valued at approximately $2,215,278.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Brent L. Yeagy sold 60,244 shares of the company's stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $28.08, for a total value of $1,691,651.52. Following the sale, the chief executive officer now directly owns 319,129 shares of the company's stock, valued at approximately $8,961,142.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael N. Pettit sold 36,020 shares of the company's stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $27.19, for a total transaction of $979,383.80. Following the completion of the sale, the chief financial officer now directly owns 81,474 shares in the company, valued at $2,215,278.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,005 shares of company stock valued at $7,260,522. Insiders own 1.64% of the company's stock.

Institutional Trading of Wabash National

Several large investors have recently made changes to their positions in WNC. Quantbot Technologies LP purchased a new stake in shares of Wabash National in the 1st quarter valued at $26,000. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Wabash National in the 4th quarter valued at $33,000. Lazard Asset Management LLC purchased a new stake in shares of Wabash National in the 3rd quarter valued at $41,000. Tower Research Capital LLC TRC boosted its holdings in shares of Wabash National by 123.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $59,000 after acquiring an additional 2,108 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Wabash National by 62.4% in the 1st quarter. Captrust Financial Advisors now owns 4,470 shares of the company's stock valued at $66,000 after acquiring an additional 1,717 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

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Wabash National Corp. engages in the design, manufacture and market of semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. It operates through the following segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures van and platform trailers and other transportation related equipment to customers who purchase directly from the company or through independent dealers.