Zacks Investment Research reiterated their buy rating on shares of Wabash National (NYSE:WNC) in a research note released on Saturday morning, Zacks.com reports. The brokerage currently has a $18.00 target price on the stock.
According to Zacks, “Wabash National Corporation is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, and intermodal equipment. Its innovative core products are sold under the DuraPlate, ArcticLite, and Eagle brand names. The company operates two wholly owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed and drop deck trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and aftermarket parts throughout the U.S. and Canada. “
Several other equities research analysts have also commented on WNC. ValuEngine raised shares of Wabash National from a strong sell rating to a sell rating in a research report on Wednesday, April 24th. Mizuho reissued a hold rating and issued a $16.00 target price on shares of Wabash National in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $19.50.
Wabash National (NYSE:WNC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Wabash National had a net margin of 2.73% and a return on equity of 17.02%. The firm had revenue of $533.00 million during the quarter, compared to analyst estimates of $519.74 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Wabash National will post 1.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, April 4th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, April 3rd. Wabash National’s dividend payout ratio is 22.22%.
Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Wabash National by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 596,564 shares of the company’s stock worth $7,802,000 after acquiring an additional 14,797 shares in the last quarter. Mackay Shields LLC bought a new position in Wabash National in the 4th quarter worth approximately $700,000. Fox Run Management L.L.C. bought a new position in Wabash National in the 4th quarter worth approximately $175,000. Morgan Stanley boosted its stake in Wabash National by 59.2% in the 3rd quarter. Morgan Stanley now owns 1,220,280 shares of the company’s stock worth $22,246,000 after purchasing an additional 453,903 shares during the period. Finally, MetLife Investment Advisors LLC boosted its stake in Wabash National by 51.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 41,242 shares of the company’s stock worth $752,000 after purchasing an additional 13,969 shares during the period. 96.13% of the stock is owned by institutional investors.
About Wabash National
Wabash National Corporation designs, manufactures, and distributes transportation and diversified industrial products; and provides services primarily in the United States. The company operates through three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment provides dry van trailers; platform trailers; refrigerated trailers; converter dollies, big tire haulers, steel coil haulers, and RoadRailer trailers; aftermarket parts and services; and used trailers.
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