Wabash National (NYSE:WNC) Stock Price Expected to Rise, DA Davidson Analyst Says

Wabash National (NYSE:WNC) had its target price hoisted by DA Davidson from $7.50 to $9.50 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective indicates a potential downside of 6.86% from the company’s previous close.

Wabash National Stock Performance

NYSE:WNC traded down $0.01 during trading on Monday, reaching $10.20. The company’s stock had a trading volume of 88,018 shares, compared to its average volume of 789,486. Wabash National has a 12 month low of $6.78 and a 12 month high of $24.03. The firm has a market cap of $427.07 million, a price-to-earnings ratio of -6.59 and a beta of 1.61. The firm has a 50 day moving average of $9.39 and a 200-day moving average of $12.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 1.58.

Wabash National (NYSE:WNC) last released its earnings results on Wednesday, April 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.32). The firm had revenue of $380.89 million during the quarter, compared to analysts’ expectations of $414.55 million. Wabash National had a positive return on equity of 3.49% and a negative net margin of 3.93%. The business’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. Research analysts expect that Wabash National will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Wabash National

A number of hedge funds and other institutional investors have recently modified their holdings of WNC. Parallel Advisors LLC raised its position in Wabash National by 255.9% during the 1st quarter. Parallel Advisors LLC now owns 2,395 shares of the company’s stock valued at $26,000 after purchasing an additional 1,722 shares during the last quarter. Allworth Financial LP increased its stake in shares of Wabash National by 268.8% during the first quarter. Allworth Financial LP now owns 3,220 shares of the company’s stock valued at $34,000 after buying an additional 2,347 shares during the period. Curat Global LLC purchased a new position in shares of Wabash National during the first quarter valued at approximately $37,000. CWM LLC raised its holdings in shares of Wabash National by 1,520.7% during the first quarter. CWM LLC now owns 5,235 shares of the company’s stock valued at $58,000 after acquiring an additional 4,912 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Wabash National by 982.1% in the first quarter. GAMMA Investing LLC now owns 7,683 shares of the company’s stock worth $85,000 after acquiring an additional 6,973 shares during the period. Institutional investors own 97.05% of the company’s stock.

Wabash National Company Profile

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.