StockNews.com Downgrades Wabash National (NYSE:WNC) to Hold

StockNews.com downgraded shares of Wabash National (NYSE:WNC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Wabash National Stock Down 3.6 %

WNC stock opened at $27.50 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.17. The stock has a market capitalization of $1.24 billion, a P/E ratio of 5.72 and a beta of 1.58. The business has a 50-day moving average of $27.39 and a 200-day moving average of $24.59. Wabash National has a fifty-two week low of $20.09 and a fifty-two week high of $30.07.

Wabash National (NYSE:WNC) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.18. The company had revenue of $596.10 million during the quarter, compared to analysts’ expectations of $633.68 million. Wabash National had a return on equity of 46.87% and a net margin of 9.12%. Wabash National’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, sell-side analysts anticipate that Wabash National will post 2.19 earnings per share for the current fiscal year.

Wabash National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.16%. Wabash National’s dividend payout ratio is currently 6.65%.

Insider Transactions at Wabash National

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

Institutional Trading of Wabash National

Several institutional investors and hedge funds have recently bought and sold shares of WNC. SummerHaven Investment Management LLC raised its stake in Wabash National by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 30,225 shares of the company’s stock valued at $774,000 after buying an additional 404 shares during the period. Exchange Traded Concepts LLC raised its stake in Wabash National by 1.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 31,423 shares of the company’s stock valued at $805,000 after buying an additional 447 shares during the period. Franklin Resources Inc. raised its stake in Wabash National by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 34,277 shares of the company’s stock valued at $878,000 after buying an additional 510 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Wabash National by 21.7% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,998 shares of the company’s stock valued at $68,000 after buying an additional 535 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Wabash National by 61.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock valued at $38,000 after buying an additional 565 shares during the period. Institutional investors own 97.05% of the company’s stock.

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.