Wabash National (NYSE:WNC) Stock Price Down 4.9% – Here’s Why

Wabash National Co. (NYSE:WNC) traded down 4.9% on Wednesday . The company traded as low as $16.13 and last traded at $16.19. 102,431 shares changed hands during trading, a decline of 72% from the average session volume of 367,130 shares. The stock had previously closed at $17.02.

Wall Street Analyst Weigh In

Separately, DA Davidson reiterated a “neutral” rating and set a $18.00 price target on shares of Wabash National in a report on Monday, September 30th.

Wabash National Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. The business has a fifty day moving average price of $18.33 and a two-hundred day moving average price of $19.12.

Wabash National (NYSE:WNC) last posted its earnings results on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.04). Wabash National had a positive return on equity of 22.98% and a negative net margin of 10.94%. The firm had revenue of $464.00 million for the quarter, compared to analyst estimates of $477.35 million. During the same period in the previous year, the company posted $1.16 EPS. Wabash National’s revenue was down 26.7% on a year-over-year basis. As a group, equities analysts expect that Wabash National Co. will post 1.29 earnings per share for the current year.

Wabash National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, January 10th. Wabash National’s payout ratio is -5.89%.

Insider Buying and Selling

In other Wabash National news, SVP Michael N. Pettit sold 1,500 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $17.19, for a total value of $25,785.00. Following the sale, the senior vice president now owns 117,227 shares of the company’s stock, valued at $2,015,132.13. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Wabash National by 121.4% during the 3rd quarter. Barclays PLC now owns 163,251 shares of the company’s stock worth $3,132,000 after purchasing an additional 89,522 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Wabash National by 46.8% during the 3rd quarter. Jane Street Group LLC now owns 160,946 shares of the company’s stock worth $3,089,000 after purchasing an additional 51,274 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Wabash National during the 3rd quarter worth $192,000. BNP Paribas Financial Markets lifted its position in shares of Wabash National by 75.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 84,590 shares of the company’s stock worth $1,623,000 after purchasing an additional 36,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Wabash National by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 856,438 shares of the company’s stock worth $16,435,000 after purchasing an additional 46,451 shares during the last quarter. Hedge funds and other 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.