DA Davidson Forecasts Strong Price Appreciation for Wabash National (NYSE:WNC) Stock

Wabash National (NYSE:WNCGet Free Report) had its price target hoisted by research analysts at DA Davidson from $7.50 to $9.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential downside of 10.38% from the company’s current price.

Wabash National Stock Up 2.5%

Shares of Wabash National stock opened at $10.60 on Monday. The firm has a market cap of $443.82 million, a price-to-earnings ratio of -6.84 and a beta of 1.61. The stock has a 50-day simple moving average of $9.41 and a 200-day simple moving average of $12.36. Wabash National has a 52-week low of $6.78 and a 52-week high of $24.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.91.

Wabash National (NYSE:WNCGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.32). Wabash National had a negative net margin of 3.93% and a positive return on equity of 3.49%. The business had revenue of $380.89 million for the quarter, compared to the consensus estimate of $414.55 million. During the same period in the previous year, the business posted $0.39 EPS. Wabash National’s revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that Wabash National will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wabash National

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WNC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wabash National by 96.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,825,902 shares of the company’s stock worth $20,176,000 after acquiring an additional 895,516 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Wabash National by 1,301.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 787,533 shares of the company’s stock valued at $8,702,000 after acquiring an additional 731,339 shares during the period. Federated Hermes Inc. bought a new stake in Wabash National during the first quarter valued at about $5,874,000. Millennium Management LLC boosted its holdings in Wabash National by 864.3% during the first quarter. Millennium Management LLC now owns 459,547 shares of the company’s stock valued at $5,078,000 after acquiring an additional 411,889 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Wabash National during the first quarter valued at about $4,053,000. Institutional investors and hedge funds own 97.05% of the company’s stock.

Wabash National Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Wabash National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wabash National and related companies with MarketBeat.com's FREE daily email newsletter.