Wabash National (NYSE:WNC) Reaches New 52-Week Low – Here’s What Happened

Shares of Wabash National Co. (NYSE:WNC) reached a new 52-week low on Tuesday . The stock traded as low as $17.68 and last traded at $17.82, with a volume of 33932 shares. The stock had previously closed at $18.06.

Analysts Set New Price Targets

Separately, DA Davidson restated a “neutral” rating and issued a $18.00 price target on shares of Wabash National in a research note on Monday, September 30th.

Wabash National Stock Down 0.7 %

The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $789.36 million, a P/E ratio of 4.34 and a beta of 1.52. The business has a 50-day moving average price of $19.25 and a 200 day moving average price of $21.98.

Wabash National (NYSE:WNC) last posted its earnings results on Wednesday, July 24th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $550.61 million during the quarter, compared to the consensus estimate of $594.77 million. Wabash National had a return on equity of 28.24% and a net margin of 6.66%. The company’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. On average, equities analysts expect that Wabash National Co. will post 1.53 EPS for the current fiscal year.

Wabash National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.78%. Wabash National’s dividend payout ratio is currently 7.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WNC. QRG Capital Management Inc. raised its holdings in Wabash National by 4.2% during the 1st quarter. QRG Capital Management Inc. now owns 14,910 shares of the company’s stock valued at $446,000 after buying an additional 606 shares during the period. ProShare Advisors LLC boosted its stake in shares of Wabash National by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 9,273 shares of the company’s stock worth $278,000 after purchasing an additional 624 shares during the period. SummerHaven Investment Management LLC grew its holdings in Wabash National by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 31,310 shares of the company’s stock valued at $684,000 after purchasing an additional 690 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Wabash National by 2.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 26,265 shares of the company’s stock worth $786,000 after purchasing an additional 708 shares during the period. Finally, Kendall Capital Management lifted its stake in Wabash National by 4.0% in the second quarter. Kendall Capital Management now owns 31,525 shares of the company’s stock worth $689,000 after purchasing an additional 1,200 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

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.