Wabash National Corp. (NYSE:WNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $16.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.27% from the company’s current price.
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. “
Separately, Stifel Nicolaus downgraded shares of Wabash National Corp. from a “hold” rating to a “sell” rating and set a $11.00 price target on the stock. in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.40.
Wabash National Corp. (NYSE:WNC) opened at 14.38 on Wednesday. The stock has a 50 day moving average of $13.80 and a 200 day moving average of $13.49. 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 $919.14 million, a P/E ratio of 7.53 and a beta of 2.11.
Wabash National Corp. (NYSE:WNC) last released its earnings results on Tuesday, July 26th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. The firm earned $471.44 million during the quarter, compared to analyst estimates of $490.19 million. Wabash National Corp. had a net margin of 6.43% and a return on equity of 28.98%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.33 EPS. On average, analysts expect that Wabash National Corp. will post $1.86 earnings per share for the current year.
In other Wabash National Corp. news, SVP Erin Jennifer Roth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $14.50, for a total transaction of $108,750.00. Following the transaction, the senior vice president now owns 87,520 shares of the company’s stock, valued at approximately $1,269,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacad Investment Ltd. increased its position in Wabash National Corp. by 0.5% in the second quarter. Pacad Investment Ltd. now owns 22,100 shares of the company’s stock worth $281,000 after buying an additional 100 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Wabash National Corp. by 3.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,587 shares of the company’s stock worth $185,000 after buying an additional 500 shares during the period. Suntrust Banks Inc. increased its position in Wabash National Corp. by 5.7% in the second quarter. Suntrust Banks Inc. now owns 11,074 shares of the company’s stock worth $140,000 after buying an additional 602 shares during the period. Teacher Retirement System of Texas increased its position in Wabash National Corp. by 12.1% in the second quarter. Teacher Retirement System of Texas now owns 9,136 shares of the company’s stock worth $116,000 after buying an additional 984 shares during the period. Finally, Principal Financial Group Inc. increased its position in Wabash National Corp. by 12.1% in the second quarter. Principal Financial Group Inc. now owns 18,027 shares of the company’s stock worth $229,000 after buying an additional 1,948 shares during the period.
Wabash National Corp. Company Profile
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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