Wabash National (NYSE:WNC) Hits New 52-Week High – Here’s What Happened

Wabash National Corporation (NYSE:WNC)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $13.27 and last traded at $13.42, with a volume of 78999 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

A number of analysts have commented on WNC shares. Wall Street Zen raised shares of Wabash National from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. DA Davidson raised Wabash National from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.50 to $20.00 in a research note on Wednesday, June 17th. Finally, Weiss Ratings lowered Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

Wabash National Stock Up 5.9%

The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.55. The firm’s fifty day moving average price is $8.67 and its 200-day moving average price is $9.33. The company has a market cap of $564.21 million, a price-to-earnings ratio of -8.67 and a beta of 1.55.

Wabash National (NYSE:WNC) last posted its earnings results on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.16). Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The business had revenue of $303.23 million for the quarter, compared to the consensus estimate of $319.03 million. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. The business’s revenue was down 20.4% on a year-over-year basis. Sell-side analysts predict that Wabash National Corporation will post -1.75 earnings per share for the current year.

Wabash National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, July 2nd. Wabash National’s dividend payout ratio (DPR) is -20.00%.

Institutional Investors Weigh In On Wabash National

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co acquired a new position in Wabash National in the 4th quarter worth $37,000. Quadrant Capital Group LLC grew its holdings in shares of Wabash National by 515.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,409 shares of the company’s stock worth $47,000 after buying an additional 4,530 shares in the last quarter. CWM LLC raised its position in Wabash National by 82.6% in the 4th quarter. CWM LLC now owns 6,099 shares of the company’s stock valued at $53,000 after buying an additional 2,758 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Wabash National by 104.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,085 shares of the company’s stock worth $80,000 after acquiring an additional 4,129 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Wabash National in the fourth quarter valued at approximately $90,000. Institutional investors own 97.05% of the company’s stock.

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.