Wabash National (NYSE:WNC) Stock Rating Upgraded by Zacks Research

Wabash National (NYSE:WNC) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $9.00 price objective on shares of Wabash National in a research note on Friday, December 19th. National Bankshares set a $9.00 price target on shares of Wabash National in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Wabash National in a research report on Monday, December 29th. Finally, Wall Street Zen raised Wabash National from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wabash National has a consensus rating of “Reduce” and a consensus price target of $9.00.

Wabash National Trading Up 5.4%

NYSE:WNC opened at $9.75 on Monday. The company has a market cap of $395.03 million, a PE ratio of 1.60 and a beta of 1.67. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 1.01. The company has a 50 day simple moving average of $8.62 and a two-hundred day simple moving average of $9.73. Wabash National has a 12 month low of $6.78 and a 12 month high of $17.55.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WNC. First Trust Advisors LP purchased a new stake in Wabash National during the second quarter valued at $32,629,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Wabash National by 2.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,821,212 shares of the company’s stock valued at $17,975,000 after acquiring an additional 36,226 shares during the last quarter. Ameriprise Financial Inc. grew 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 in the last quarter. Royce & Associates LP increased its stake in Wabash National by 1.4% during 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 last quarter. Finally, Cambria Investment Management L.P. raised its position in Wabash National by 8.3% during the third quarter. Cambria Investment Management L.P. now owns 648,287 shares of the company’s stock valued at $6,399,000 after purchasing an additional 49,536 shares during the period. 97.05% of the stock is currently owned by institutional investors.

Wabash National Company Profile

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.