Wabash National (NYSE:WNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, March 16th. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.11% from the stock’s previous close.
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. “
WNC has been the subject of a number of other research reports. ValuEngine raised Wabash National from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. OTR Global upgraded Wabash National to a “positive” rating in a research report on Thursday, March 1st. Seaport Global Securities restated a “neutral” rating on shares of Wabash National in a research report on Tuesday, January 16th. Stifel Nicolaus restated a “hold” rating on shares of Wabash National in a research report on Friday, December 22nd. Finally, BMO Capital Markets upped their price target on Wabash National to $24.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Wabash National currently has a consensus rating of “Hold” and a consensus target price of $25.80.
WNC traded down $0.64 during trading on Friday, hitting $20.67. The stock had a trading volume of 395,362 shares, compared to its average volume of 538,237. The company has a market capitalization of $1,228.53, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.50 and a beta of 1.82. Wabash National has a one year low of $18.25 and a one year high of $26.54. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.03 and a quick ratio of 1.39.
Wabash National (NYSE:WNC) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The firm had revenue of $543.40 million during the quarter, compared to analysts’ expectations of $517.96 million. Wabash National had a return on equity of 17.69% and a net margin of 6.31%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. equities analysts anticipate that Wabash National will post 1.97 earnings per share for the current fiscal year.
In other news, CEO Richard J. Giromini sold 58,300 shares of the stock in a transaction that occurred on 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 directly owns 803,680 shares of the company’s stock, valued at $20,124,147.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC increased its position in shares of Wabash National by 32.3% during the fourth quarter. Meadow Creek Investment Management LLC now owns 9,758 shares of the company’s stock valued at $212,000 after acquiring an additional 2,380 shares during the last quarter. Quantbot Technologies LP bought a new position in Wabash National during the third quarter valued at $326,000. Yorktown Management & Research Co Inc grew its holdings in Wabash National by 21.7% during the third quarter. Yorktown Management & Research Co Inc now owns 14,600 shares of the company’s stock valued at $333,000 after purchasing an additional 2,600 shares during the period. ETRADE Capital Management LLC grew its holdings in Wabash National by 25.1% during the third quarter. ETRADE Capital Management LLC now owns 14,622 shares of the company’s stock valued at $334,000 after purchasing an additional 2,930 shares during the period. Finally, Caxton Associates LP bought a new position in Wabash National during the fourth quarter valued at $373,000.
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About Wabash National
Wabash National Corporation manufactures and sells semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. The company's Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and trailers; aftermarket parts and services; and used trailers.
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