Zacks Investment Research upgraded shares of Wabash National (NYSE:WNC) from a hold rating to a buy rating in a research note published on Saturday. The firm currently has $27.00 price objective on the stock.
According to Zacks, “Wabash National Corporation is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, and intermodal equipment. Its innovative core products are sold under the DuraPlate, ArcticLite, and Eagle brand names. The company operates two wholly owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed and drop deck trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and aftermarket parts throughout the U.S. and Canada. “
A number of other research firms have also recently issued reports on WNC. Stifel Nicolaus decreased their target price on Wabash National from $23.00 to $22.00 and set a hold rating for the company in a research note on Monday, November 6th. BMO Capital Markets boosted their target price on Wabash National to $24.00 and gave the company a market perform rating in a research note on Friday, February 2nd. OTR Global cut Wabash National to a positive rating in a research note on Thursday, December 14th. ValuEngine raised Wabash National from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Finally, Seaport Global Securities reissued a neutral rating on shares of Wabash National in a research note on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $26.40.
Shares of Wabash National (NYSE WNC) opened at $23.23 on Friday. The company has a market capitalization of $1,370.06, a PE ratio of 16.83, a P/E/G ratio of 0.55 and a beta of 1.73. The company has a quick ratio of 1.39, a current ratio of 2.03 and a debt-to-equity ratio of 1.00. Wabash National has a fifty-two week low of $18.25 and a fifty-two week high of $26.54.
Wabash National (NYSE:WNC) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $543.40 million during the quarter, compared to the consensus estimate of $517.96 million. Wabash National had a return on equity of 17.69% and a net margin of 6.31%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. equities analysts expect that Wabash National will post 1.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, January 4th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.29%. This is a boost from Wabash National’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, January 3rd. Wabash National’s payout ratio is presently 16.85%.
In other Wabash National news, CEO Richard J. Giromini sold 58,300 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $25.04, for a total value of $1,459,832.00. Following the completion of the transaction, the chief executive officer now directly owns 803,680 shares of the company’s stock, valued at $20,124,147.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Wabash National by 198.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 75,182 shares of the company’s stock worth $1,631,000 after buying an additional 50,025 shares during the period. Systematic Financial Management LP boosted its position in shares of Wabash National by 26.4% during the fourth quarter. Systematic Financial Management LP now owns 123,155 shares of the company’s stock worth $2,672,000 after buying an additional 25,713 shares during the period. Royce & Associates LP boosted its position in shares of Wabash National by 18.5% during the fourth quarter. Royce & Associates LP now owns 4,571,699 shares of the company’s stock worth $99,206,000 after buying an additional 715,062 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Wabash National by 12.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 29,993 shares of the company’s stock worth $651,000 after buying an additional 3,291 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Wabash National by 3.7% during the fourth quarter. BlackRock Inc. now owns 7,498,565 shares of the company’s stock worth $162,718,000 after buying an additional 264,512 shares during the period.
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About Wabash National
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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