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

Posted by Defense World Staff on Jun 6th, 2023

Wabash National (NYSE:WNC – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Wabash National Stock Down 1.0 %

Shares of NYSE:WNC opened at $25.19 on Tuesday. The firm has a market cap of $1.20 billion, a P/E ratio of 8.21 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 1.61 and a debt-to-equity ratio of 0.93. Wabash National has a 12-month low of $12.81 and a 12-month high of $30.10. The business has a fifty day simple moving average of $23.84 and a 200 day simple moving average of $24.89.

Wabash National (NYSE:WNC – Get Rating) last announced its earnings results on Wednesday, April 26th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.59. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $624.38 million. Wabash National had a return on equity of 39.80% and a net margin of 5.88%. Wabash National’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Analysts predict that Wabash National will post 4.29 earnings per share for the current year.

Insiders Place Their Bets

In other Wabash National news, SVP Kevin J. Page sold 22,160 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $27.15, for a total transaction of $601,644.00. Following the completion of the sale, the senior vice president now directly owns 70,134 shares in the company, valued at approximately $1,904,138.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Larry J. Magee sold 13,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $26.15, for a total value of $339,950.00. Following the completion of the sale, the director now directly owns 111,874 shares in the company, valued at approximately $2,925,505.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin J. Page sold 22,160 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $27.15, for a total value of $601,644.00. Following the completion of the sale, the senior vice president now owns 70,134 shares of the company’s stock, valued at $1,904,138.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,180 shares of company stock worth $1,920,978. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Wabash National

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of Wabash National by 8.8% in the 4th quarter. New York State Teachers Retirement System now owns 49,304 shares of the company’s stock valued at $1,114,000 after buying an additional 3,967 shares during the period. Financial Advocates Investment Management acquired a new position in Wabash National during the 3rd quarter valued at about $326,000. Swiss National Bank boosted its stake in Wabash National by 0.8% during the 4th quarter. Swiss National Bank now owns 117,200 shares of the company’s stock valued at $2,649,000 after purchasing an additional 900 shares during the last quarter. Martingale Asset Management L P acquired a new position in Wabash National during the 3rd quarter valued at about $502,000. Finally, Mach 1 Financial Group LLC acquired a new position in Wabash National during the 4th quarter valued at about $482,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Wabash National

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Wabash National Corp. engages in the design, manufacture and market of semi-trailers, truck bodies, specialized commercial vehicles, and liquid transportation systems. It operates through the following segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures van and platform trailers and other transportation related equipment to customers who purchase directly from the company or through independent dealers.