Wabash National (NYSE:WNC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Wabash National (NYSE:WNC) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Wabash National Stock Down 3.4 %

Wabash National stock opened at $25.02 on Thursday. The business has a fifty day moving average of $27.40 and a two-hundred day moving average of $24.78. The company has a quick ratio of 1.17, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.13 billion, a P/E ratio of 5.20 and a beta of 1.58. Wabash National has a twelve month low of $20.09 and a twelve month high of $30.07.

Wabash National (NYSE:WNC) last posted its earnings results on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. The company had revenue of $596.10 million during the quarter, compared to analyst estimates of $633.68 million. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. Wabash National’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, analysts forecast that Wabash National will post 2.19 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, April 3rd. Wabash National’s payout ratio is presently 6.65%.

Insider Activity at Wabash National

In related news, Director Priyadarshi Sudhanshu sold 1,010 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total value of $27,330.60. Following the transaction, the director now directly owns 6,386 shares of the company’s stock, valued at approximately $172,805.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Larry J. Magee sold 3,086 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total value of $81,779.00. Following the completion of the transaction, the director now owns 114,146 shares of the company’s stock, valued at approximately $3,024,869. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Priyadarshi Sudhanshu sold 1,010 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the completion of the transaction, the director now directly owns 6,386 shares of the company’s stock, valued at approximately $172,805.16. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Wabash National

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new position in shares of Wabash National in the 3rd quarter valued at about $1,595,000. AQR Capital Management LLC increased its stake in shares of Wabash National by 12.7% in the 3rd quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock valued at $11,559,000 after purchasing an additional 61,887 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Wabash National by 99.0% in the 3rd quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock valued at $5,582,000 after purchasing an additional 131,512 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Wabash National by 143.4% in the 3rd quarter. Quantbot Technologies LP now owns 38,185 shares of the company’s stock valued at $806,000 after purchasing an additional 22,495 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Wabash National by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company’s stock valued at $12,525,000 after purchasing an additional 49,443 shares in the last quarter. Institutional investors and hedge funds own 97.05% of the company’s stock.

About Wabash National

Wabash National Corporation provides connected solutions for the transportation, logistics, and distribution industries primarily in the United States. The company operates through two segments, Transportation Solutions and Parts & Services. The Transportation Solutions segment designs and manufactures transportation-related equipment and products dry and refrigerated van trailers, platform trailers, tank trailers, and truck-mounted tanks; truck bodies for dry-freight transportation; cargo and cargo XL bodies for commercial applications; refrigerated truck bodies; platform truck bodies; and used trailers, as well as laminated hardwood oak flooring products.