DA Davidson Reaffirms Buy Rating for Wabash National (NYSE:WNC)

Wabash National (NYSE:WNC)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They presently have a $20.00 target price on the stock. DA Davidson’s price objective points to a potential upside of 50.02% from the company’s current price.

A number of other research firms also recently commented on WNC. Weiss Ratings downgraded Wabash National from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. Wall Street Zen cut Wabash National from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, Citizens Jmp began coverage on Wabash National in a report on Wednesday, July 15th. They set an “outperform” rating and a $25.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Wabash National Price Performance

NYSE WNC opened at $13.33 on Wednesday. Wabash National has a 12 month low of $6.63 and a 12 month high of $14.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.33 and a quick ratio of 0.77. The firm has a market capitalization of $542.21 million, a PE ratio of -8.33 and a beta of 1.43. The company’s 50 day simple moving average is $10.62 and its 200 day simple moving average is $9.89.

Wabash National (NYSE:WNC) last released its earnings results on Friday, May 1st. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.16). The firm had revenue of $303.23 million during the quarter, compared to analyst estimates of $319.03 million. Wabash National had a negative return on equity of 30.16% and a negative net margin of 4.41%.The business’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.58) earnings per share. As a group, equities research analysts forecast that Wabash National will post -1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $17,975,000 after acquiring an additional 36,226 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Wabash National by 17.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,657,953 shares of the company’s stock valued at $14,291,000 after purchasing an additional 247,345 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Wabash National by 17.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,548,493 shares of the company’s stock valued at $13,394,000 after purchasing an additional 233,979 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Wabash National by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,445,635 shares of the company’s stock valued at $15,367,000 after purchasing an additional 59,054 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Wabash National by 161.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,108,072 shares of the company’s stock valued at $9,585,000 after purchasing an additional 684,397 shares during the period. Institutional investors own 97.05% of the company’s stock.

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.