Wabash National’s (WNC) “Neutral” Rating Reiterated at DA Davidson

Wabash National (NYSE:WNC)‘s stock had its “neutral” rating reissued by equities research analysts at DA Davidson in a note issued to investors on Monday, Benzinga reports. They currently have a $18.00 target price on the stock. DA Davidson’s price target would indicate a potential downside of 3.85% from the company’s current price.

Wabash National Price Performance

Shares of WNC stock opened at $18.72 on Monday. The firm’s 50 day moving average price is $19.53 and its two-hundred day moving average price is $22.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.99. Wabash National has a 52-week low of $17.71 and a 52-week high of $30.07. The stock has a market cap of $823.68 million, a PE ratio of 4.54 and a beta of 1.53.

Wabash National (NYSE:WNC) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Wabash National had a return on equity of 28.24% and a net margin of 6.66%. The business had revenue of $550.61 million during the quarter, compared to analysts’ expectations of $594.77 million. During the same period in the previous year, the firm earned $1.54 earnings per share. The firm’s quarterly revenue was down 19.8% compared to the same quarter last year. As a group, analysts forecast that Wabash National will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Wabash National

Several hedge funds have recently bought and sold shares of WNC. Innealta Capital LLC bought a new stake in shares of Wabash National in the second quarter worth about $33,000. Point72 Hong Kong Ltd bought a new position in shares of Wabash National during the second quarter worth about $34,000. Tradewinds Capital Management LLC acquired a new stake in Wabash National in the 1st quarter valued at approximately $48,000. CWM LLC lifted its stake in Wabash National by 353.5% in the 2nd quarter. CWM LLC now owns 2,272 shares of the company’s stock valued at $50,000 after acquiring an additional 1,771 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Wabash National during the 2nd quarter worth approximately $66,000. 97.05% of the stock is currently owned by institutional investors and hedge funds.

Wabash National Company Profile

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.