Wabash National Corp. (NYSE:WNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Several other research analysts have also recently issued reports on the company. Stifel Nicolaus cut Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 target price on the stock. in a research report on Monday, June 13th. Credit Agricole SA initiated coverage on Wabash National Corp. in a research report on Friday. They set an “underperform” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Wabash National Corp. currently has an average rating of “Hold” and a consensus target price of $13.67.
Wabash National Corp. (NYSE:WNC) opened at 14.36 on Tuesday. Wabash National Corp. has a 52-week low of $9.68 and a 52-week high of $14.97. The company has a market cap of $917.86 million, a PE ratio of 7.52 and a beta of 2.09. The firm’s 50-day moving average price is $13.85 and its 200 day moving average price is $13.53.
Wabash National Corp. (NYSE:WNC) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.08. The firm earned $471.44 million during the quarter, compared to the consensus estimate of $490.19 million. Wabash National Corp. had a return on equity of 28.98% and a net margin of 6.43%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities analysts predict that Wabash National Corp. will post $1.86 EPS for the current fiscal year.
In other Wabash National Corp. news, SVP Erin Jennifer Roth sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $14.50, for a total value of $108,750.00. Following the transaction, the senior vice president now owns 87,520 shares of the company’s stock, valued at $1,269,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in Wabash National Corp. by 6.0% in the first quarter. Aperio Group LLC now owns 40,772 shares of the company’s stock valued at $538,000 after buying an additional 2,313 shares in the last quarter. Virginia Retirement System acquired a new position in Wabash National Corp. during the first quarter valued at $1,262,000. CIBC World Markets Inc. acquired a new position in Wabash National Corp. during the first quarter valued at $1,583,000. BlackRock Group LTD boosted its position in Wabash National Corp. by 9.7% in the first quarter. BlackRock Group LTD now owns 96,889 shares of the company’s stock valued at $1,279,000 after buying an additional 8,591 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its position in Wabash National Corp. by 109.3% in the first quarter. Baker Ellis Asset Management LLC now owns 71,630 shares of the company’s stock valued at $946,000 after buying an additional 37,410 shares in the last quarter.
About Wabash National Corp.
Wabash National Corporation is engaged in designing, manufacturing and marketing standard and customized truck and tank trailers, intermodal equipment and transportation related products. The Company’s segments include Commercial Trailer Products, Diversified Products, Retail, and Corporate and Eliminations.
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