Wabash National (NYSE:WNC) Stock Price Down 4.9% - Here's Why

Shares of Wabash National Co. (NYSE:WNC - Get Free Report) traded down 4.9% on Thursday . The company traded as low as $15.94 and last traded at $16.22. 197,178 shares traded hands during trading, a decline of 66% from the average session volume of 587,477 shares. The stock had previously closed at $17.06.

Analyst Upgrades and Downgrades

Separately, DA Davidson reiterated a "neutral" rating and set a $18.00 price objective on shares of Wabash National in a research note on Monday, September 30th.

Wabash National Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.99. The firm's fifty day moving average is $18.81 and its two-hundred day moving average is $21.11. The company has a market cap of $743.60 million, a P/E ratio of 5.18 and a beta of 1.52.

Wabash National (NYSE:WNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. Wabash National had a return on equity of 28.24% and a net margin of 6.66%. The business had revenue of $550.61 million during the quarter, compared to the consensus estimate of $594.77 million. During the same period in the prior year, the company posted $1.54 EPS. The firm's revenue for the quarter was down 19.8% compared to the same quarter last year. As a group, analysts anticipate that Wabash National Co. will post 1.53 earnings per share for the current fiscal year.

Wabash National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.32 annualized dividend and a yield of 1.89%. Wabash National's payout ratio is 9.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Wabash National in the third quarter worth about $27,000. Innealta Capital LLC purchased a new stake in shares of Wabash National during the 2nd quarter worth approximately $33,000. Point72 Hong Kong Ltd bought a new position in shares of Wabash National during the 2nd quarter valued at approximately $34,000. Tradewinds Capital Management LLC purchased a new position in shares of Wabash National in the first quarter valued at $48,000. Finally, CWM LLC grew its holdings in shares of Wabash National by 353.5% in the second quarter. CWM LLC now owns 2,272 shares of the company's stock valued at $50,000 after purchasing an additional 1,771 shares in the last quarter. 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.