Wabash National (NYSE:WNC) Given “Neutral” Rating at DA Davidson

Wabash National (NYSE:WNC)‘s stock had its “neutral” rating reissued by equities researchers at DA Davidson in a research report issued on Friday,Benzinga reports. They currently have a $9.00 target price on the stock. DA Davidson’s target price would suggest a potential upside of 3.81% from the company’s current price.

Several other equities analysts have also recently issued reports on WNC. National Bankshares set a $9.00 price objective on Wabash National in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wabash National in a report on Monday. Zacks Research cut Wabash National from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Wabash National presently has an average rating of “Reduce” and a consensus target price of $9.00.

Wabash National Stock Down 6.8%

Shares of NYSE WNC traded down $0.63 during trading on Friday, reaching $8.67. The company had a trading volume of 289,979 shares, compared to its average volume of 819,441. Wabash National has a 12-month low of $6.78 and a 12-month high of $17.69. The business’s 50-day moving average is $8.61 and its 200 day moving average is $9.82. The stock has a market cap of $351.31 million, a PE ratio of 1.43 and a beta of 1.66. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 1.01.

Wabash National (NYSE:WNC) last issued its earnings results on Wednesday, December 1st. The company reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $482.57 million during the quarter. Wabash National had a net margin of 15.89% and a negative return on equity of 15.21%. Wabash National has set its Q4 2021 guidance at $0.100-$0.150 EPS. As a group, equities analysts forecast that Wabash National will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP bought a new position in shares of Wabash National in the 2nd quarter worth approximately $32,629,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Wabash National by 96.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,825,902 shares of the company’s stock valued at $20,176,000 after buying an additional 895,516 shares during the last quarter. Ameriprise Financial Inc. raised its position in Wabash National by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock worth $15,367,000 after acquiring an additional 59,054 shares during the period. Royce & Associates LP raised its position in Wabash National by 1.4% in the third quarter. Royce & Associates LP now owns 1,210,338 shares of the company’s stock worth $11,946,000 after acquiring an additional 16,838 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Wabash National by 11.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,028,880 shares of the company’s stock valued at $11,369,000 after acquiring an additional 102,928 shares during the period. 97.05% of the stock is owned by hedge funds and other institutional investors.

About Wabash National

Wabash National Corporation (NYSE: WNC) is a leading designer and manufacturer of transportation equipment and supply chain solutions. The company’s product portfolio includes dry freight van trailers, refrigerated vans, tank trailers, platform trailers, flatbeds and composite bodies. Wabash National also offers railcar products and modular building solutions, serving customers in a wide range of end markets such as food and beverage, chemicals, agriculture, waste management and construction.

Founded in 1985 and headquartered in Lafayette, Indiana, Wabash National has built a reputation for innovation in lightweight materials, advanced manufacturing processes and telematics integration.