Wabash National (WNC) Cut to Hold at Zacks Investment Research

Wabash National (NYSE:WNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Other research analysts also recently issued research reports about the company. BMO Capital Markets increased their target price on Wabash National to $24.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Stifel Nicolaus increased their target price on Wabash National from $23.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Seaport Global Securities reissued a “neutral” rating on shares of Wabash National in a report on Tuesday, January 16th. OTR Global downgraded Wabash National to a “positive” rating in a report on Thursday, December 14th. Finally, ValuEngine raised Wabash National from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.40.

Wabash National (NYSE WNC) traded down $0.37 during mid-day trading on Thursday, reaching $23.92. The company’s stock had a trading volume of 266,357 shares, compared to its average volume of 993,963. Wabash National has a 52 week low of $18.25 and a 52 week high of $26.54. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.39 and a current ratio of 2.03. The company has a market capitalization of $1,403.68, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.56 and a beta of 1.73.

Wabash National (NYSE:WNC) last posted its earnings results on Tuesday, January 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Wabash National had a return on equity of 17.69% and a net margin of 6.31%. The company had revenue of $543.40 million for the quarter, compared to the consensus estimate of $517.96 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Wabash National’s revenue was up 17.6% on a year-over-year basis. sell-side analysts anticipate that Wabash National will post 1.97 EPS for the current year.

In other Wabash National news, CEO Richard J. Giromini sold 58,300 shares of the company’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 sale, the chief executive officer now owns 803,680 shares in the company, valued at $20,124,147.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Wabash National by 3.7% in 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 in the last quarter. Royce & Associates LP increased its position in Wabash National by 18.5% in 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 in the last quarter. Rothschild Asset Management Inc. increased its position in Wabash National by 5.6% in the third quarter. Rothschild Asset Management Inc. now owns 1,790,653 shares of the company’s stock worth $40,863,000 after buying an additional 95,220 shares in the last quarter. Victory Capital Management Inc. increased its position in Wabash National by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,636,788 shares of the company’s stock worth $35,519,000 after buying an additional 232,736 shares in the last quarter. Finally, Park West Asset Management LLC increased its position in Wabash National by 63.5% in the fourth quarter. Park West Asset Management LLC now owns 1,635,000 shares of the company’s stock worth $35,480,000 after buying an additional 635,000 shares in the last quarter.

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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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