Wabash National (NYSE:WNC) Shares Gap Up on Analyst Upgrade

Wabash National Co. (NYSE:WNCGet Rating) gapped up before the market opened on Tuesday after DA Davidson raised their price target on the stock from $25.00 to $29.00. The stock had previously closed at $24.61, but opened at $25.31. Wabash National shares last traded at $25.43, with a volume of 1,404 shares.

Several other research analysts have also recently commented on WNC. StockNews.com upgraded shares of Wabash National from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Raymond James increased their price target on shares of Wabash National from $20.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 27th. Finally, Stephens increased their price target on shares of Wabash National from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.67.

Insider Buying and Selling at Wabash National

In other Wabash National news, CEO Brent L. Yeagy sold 8,006 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $24.00, for a total transaction of $192,144.00. Following the sale, the chief executive officer now directly owns 419,129 shares of the company’s stock, valued at approximately $10,059,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brent L. Yeagy sold 4,269 shares of Wabash National stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $17.00, for a total value of $72,573.00. Following the completion of the sale, the chief executive officer now owns 446,824 shares in the company, valued at $7,596,008. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brent L. Yeagy sold 8,006 shares of Wabash National stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $24.00, for a total transaction of $192,144.00. Following the completion of the sale, the chief executive officer now owns 419,129 shares of the company’s stock, valued at approximately $10,059,096. The disclosure for this sale can be found here. In the last three months, insiders sold 50,261 shares of company stock worth $976,895. 1.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wabash National

A number of hedge funds have recently added to or reduced their stakes in WNC. Steward Partners Investment Advisory LLC lifted its holdings in Wabash National by 30,512.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 7,653 shares of the company’s stock worth $114,000 after purchasing an additional 7,628 shares during the period. Victory Capital Management Inc. raised its holdings in Wabash National by 19.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,699,394 shares of the company’s stock worth $24,917,000 after buying an additional 277,390 shares during the period. Russell Investments Group Ltd. raised its holdings in Wabash National by 38.3% during the 1st quarter. Russell Investments Group Ltd. now owns 147,107 shares of the company’s stock worth $2,180,000 after buying an additional 40,740 shares during the period. KBC Group NV purchased a new position in Wabash National during the 1st quarter valued at about $232,000. Finally, IndexIQ Advisors LLC purchased a new position in Wabash National during the 1st quarter valued at about $387,000. Institutional investors and hedge funds own 99.78% of the company’s stock.

Wabash National Trading Up 2.7 %

The company has a market cap of $1.21 billion, a PE ratio of 27.47 and a beta of 1.66. The company has a 50 day simple moving average of $18.77 and a two-hundred day simple moving average of $16.81. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.92 and a current ratio of 1.70.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 26th. Shareholders of record on Thursday, January 5th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. Wabash National’s payout ratio is currently 34.78%.

Wabash National Company Profile

(Get Rating)

Wabash National Corporation designs, manufactures, and distributes engineered 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 provides dry van and platform trailers; refrigerated trailers; converter dollies; van bodies for dry-freight transportation; cutaway van bodies for commercial applications; service bodies; insulated van bodies; stake bodies; refrigerated truck bodies; and used trailers, as well as laminated hardwood oak flooring products.

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