Wabash National (NYSE:WNC) Stock Rating Upgraded by Zacks Investment Research

Wabash National (NYSE:WNC – Get Noted) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Saturday to investors, Zacks.com reports. The company currently has a price target of $18.00 on the stock. Zacks Investment Research’s target price suggests a potential upside of 9.89% from the company’s previous close.

According to Zacks, “Wabash National Corporation is one of North America’s leading semi-trailer manufacturers. Founded in 1985, the company specializes in the design and production of dry cargo vans, refrigerated vans, trailers equipment. Its innovative core products are sold under the DuraPlate, ArcticLite and Eagle brand names. The company operates two wholly-owned subsidiaries: Transcraft Corporation, a manufacturer of flatbed trailers. form and low-bed trailers; and Wabash National Trailer Centers, a retail distributor of new and used trailers and replacement parts in the United States and Canada.”

WNC has been the subject of a number of other research reports. TheStreet downgraded Wabash National from a “b-” rating to a “c” rating in a Wednesday, February 2 research report. Raymond James lowered its target price on Wabash National from $24.00 to $22.00 and set a “Strong Buy” rating for the company in a Thursday, Feb. 3 research report. Finally, DA Davidson reiterated a “buy” rating on Wabash National shares in a Friday, February 4 research report. Two equity research analysts have assigned the stock a hold rating, three have issued a buy rating and one has assigned the stock a high buy rating. According to MarketBeat.com, the stock has an average buy rating and a consensus target price of $20.67.

(A d)

This Hawaii-based company has cracked the code to leapfrog a $35 billion industry.

WNC stock opened at $16.38 on Friday. Wabash National has a 12-month low of $13.04 and a 12-month high of $21.63. The company has a quick ratio of 1.01, a current ratio of 1.83 and a debt ratio of 1.32. The company has a market capitalization of $798.69 million, a PE ratio of 1,638.00 and a beta of 1.62. The stock has a 50-day simple moving average of $17.76 and a 200-day simple moving average of $17.28.

Wabash National (NYSE:WNC – Get Rating) last released its quarterly earnings data on Wednesday, February 2. The company reported EPS of $0.07 for the quarter, missing Thomson Reuters consensus estimate of $0.12 per ($0.05). Wabash National had a return on equity of 7.68% and a net margin of 0.06%. The company posted revenue of $479.28 million for the quarter, versus $489.23 million expected by analysts. During the same period a year earlier, the company posted EPS of $0.10. The company’s revenue for the quarter increased by 18.6% compared to the same quarter last year. On average, equity research analysts expect Wabash National to post EPS of 1.76 for the current fiscal year.

Separately, CEO Brent L. Yeagy sold 1,836 shares in a trade on Tuesday, February 1. The stock was sold at an average price of $19.55, for a total transaction of $35,893.80. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, CEO Brent L. Yeagy sold 10,178 shares in a trade dated Tuesday, Jan. 4. The shares were sold at an average price of $20.00, for a total value of $203,560.00. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 16,386 shares of the company worth $326,894. 1.12% of the shares are held by insiders.

Large investors have recently increased or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its position in Wabash National shares by 44.8% during the third quarter. SummerHaven Investment Management LLC now owns 59,426 shares of the company worth $899,000 after purchasing an additional 18,379 shares last quarter. Dimensional Fund Advisors LP increased its holdings in Wabash National by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,244,778 shares of the company valued at $49,095,000 after purchasing an additional 24,986 shares last quarter. Foundry Partners LLC increased its stake in Wabash National by 18.8% during the third quarter. Foundry Partners LLC now owns 208,850 shares of the company valued at $3,160,000 after purchasing an additional 33,025 shares last quarter. Invesco Ltd. increased its holdings of Wabash National shares by 5.5% in Q3. Invesco Ltd. now owns 554,131 shares of the company worth $8,384,000 after purchasing an additional 29,092 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its stake in Wabash National shares by 27.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 12,531 shares of the company worth $190,000 after purchasing an additional 2,696 shares during the period. Hedge funds and other institutional investors own 97.82% of the company’s shares.

About Wabash National (Get a rating)

Wabash National Corp. engages in the design, manufacture and marketing of semi-trailers, truck bodies, specialized utility vehicles and liquid transport systems. It operates through the following segments: Commercial Trailer Products, Diversified Products and Last Mile Products. The Commercial Trailer Products segment manufactures vans and flatbed trailers and other transportation-related equipment for customers who purchase directly from the company or through independent dealers.

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