Wabash National (NYSE:WNC) Shares Gap Down Following Weak Earnings

Shares of Wabash National Co. (NYSE:WNC) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $25.75, but opened at $24.50. Wabash National shares last traded at $25.08, with a volume of 117,582 shares traded.

The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). The firm had revenue of $515.28 million for the quarter. Wabash National had a net margin of 8.15% and a return on equity of 37.84%.

Wabash National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, April 4th were paid a $0.08 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.33%. Wabash National’s payout ratio is presently 7.69%.

Analyst Ratings Changes

Separately, StockNews.com raised Wabash National from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th.

Insider Activity

In related news, Director Larry J. Magee sold 3,086 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $26.50, for a total transaction of $81,779.00. Following the completion of the transaction, the director now directly owns 114,146 shares of the company’s stock, valued at $3,024,869. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $27.06, for a total transaction of $27,330.60. Following the completion of the transaction, the director now owns 6,386 shares in the company, valued at approximately $172,805.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry J. Magee sold 3,086 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $26.50, for a total value of $81,779.00. Following the sale, the director now directly owns 114,146 shares in the company, valued at $3,024,869. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in shares of Wabash National in the 3rd quarter worth $1,595,000. AQR Capital Management LLC grew its position in Wabash National by 12.7% in the third quarter. AQR Capital Management LLC now owns 547,322 shares of the company’s stock worth $11,559,000 after acquiring an additional 61,887 shares in the last quarter. American Century Companies Inc. increased its stake in Wabash National by 99.0% during the third quarter. American Century Companies Inc. now owns 264,288 shares of the company’s stock worth $5,582,000 after acquiring an additional 131,512 shares during the last quarter. Quantbot Technologies LP raised its position in Wabash National by 143.4% during the third quarter. Quantbot Technologies LP now owns 38,185 shares of the company’s stock valued at $806,000 after purchasing an additional 22,495 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Wabash National by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,057 shares of the company’s stock valued at $12,525,000 after purchasing an additional 49,443 shares during the last quarter. 97.05% of the stock is owned by hedge funds and other institutional investors.

Wabash National Trading Down 1.7 %

The stock has a market cap of $1.08 billion, a PE ratio of 5.77 and a beta of 1.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.17 and a current ratio of 1.87. The stock has a fifty day moving average price of $27.29 and a 200 day moving average price of $24.91.

About Wabash National

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.