Wabash National (NYSE:WNC) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Wabash National (NYSE:WNC) from a buy rating to a hold rating in a research note issued to investors on Friday.

Wabash National Stock Performance

Wabash National stock opened at $24.61 on Friday. The firm’s 50 day simple moving average is $27.26 and its 200-day simple moving average is $24.93. The company has a market cap of $1.11 billion, a P/E ratio of 5.92 and a beta of 1.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.17. 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 released its earnings results on Wednesday, April 24th. 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 during the quarter. Wabash National had a return on equity of 37.84% and a net margin of 8.15%. As a group, equities research analysts predict that Wabash National will post 2.19 EPS for the current year.

Wabash National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, April 4th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Wednesday, April 3rd. Wabash National’s dividend payout ratio is currently 7.69%.

Insider Buying and Selling at Wabash National

In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the completion of the sale, the director now directly 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 available through this hyperlink. In other Wabash National news, Director Priyadarshi Sudhanshu sold 1,010 shares of Wabash National stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $27.06, for a total value of $27,330.60. Following the completion of the sale, the director now directly 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 available through this hyperlink. Also, Director Larry J. Magee sold 3,086 shares of Wabash National stock in a transaction that occurred 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 sale, the director now owns 114,146 shares of the company’s stock, valued at $3,024,869. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Wabash National

A number of institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its position in shares of 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 purchasing an additional 404 shares during the period. Exchange Traded Concepts LLC raised its position in shares of 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 purchasing an additional 447 shares during the period. Franklin Resources Inc. increased its position in Wabash National by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 34,277 shares of the company’s stock worth $878,000 after acquiring an additional 510 shares during the period. Quadrant Capital Group LLC increased its position in Wabash National by 61.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the company’s stock worth $38,000 after acquiring an additional 565 shares during the period. Finally, Swiss National Bank increased its position in Wabash National by 0.8% during the third quarter. Swiss National Bank now owns 104,300 shares of the company’s stock worth $2,203,000 after acquiring an additional 800 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.