The Vanguard Group, Inc. recently announced the acquisition of new stake in Wabash National Corporation (NYSE:WNC). The institutional investor has increased its shareholding in the Industrials company by 0.64% to 6.35 million shares with purchase of 40640.0 shares. This fresh investment now brings its stake to 13.25% valued currently at $159.21 million. In addition, Dimensional Fund Advisors LP raised its holdings by 76963.0 to 3.32 million shares. And Victory Capital Management, Inc. has lifted its position by 9.91% or 0.17 million shares – to 1.89 million shares.
With over 0.76 million Wabash National Corporation (WNC) shares trading Tuesday and a closing price of $25.75 on the day, the dollar volume was approximately $19.54 million. The shares have shown a positive half year performance of 81.47% and its price on 01/10/23 gained nearly 7.16%. Currently, there are 48.52M common shares owned by the public and among those 47.17M shares have been available to trade.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for WNC have a consensus price objective of $24.80. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $17.00. The average price target is -7.29% below its recent price level and a downside to the estimated low will see the stock lose -51.47% over that period. But an upside of 11.21% will see the stock hit the forecast high price target while median target price for the stock is $27.00.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 375,433 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 239,383 shares.
The top 3 mutual fund holders in Wabash National Corporation are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 3.66 million shares of the company’s stock, all valued at over $91.64 million. The company bought an additional 1364.0 shares recently to bring their total holdings to about 7.62% of the shares outstanding. Vanguard Small Cap Index Fund bought 98.0 shares to bring its total holdings to over 1.19 million shares at a value of $29.87 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.49% of the shares outstanding.
Shares of Wabash National Corporation (NYSE: WNC) opened at $24.49, up $0.46 from a prior closing price of $24.03. However, the script later moved the day high at 25.85, up 7.16%. The company’s stock has a 5-day price change of 11.33% and 60.74% over the past three months. WNC shares are trading 13.94% year to date (YTD), with the 12-month market performance up to 25.92% higher. It has a 12-month low price of $12.23 and touched a high of $26.20 over the same period. WNC has an average intraday trading volume of 502.98K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.96%, 8.38%, and 46.50% respectively.
Institutional ownership of Wabash National Corporation (NYSE: WNC) 48.52M shares outstanding. Mutual fund holders own 34.75%, while other institutional holders and individual stakeholders account for 64.80% and 13.52% respectively.
It has a market capitalization of $1.18B and a beta (3y monthly) value of 1.66. The stock’s trailing 12-month PE ratio is 28.05, while the earnings-per-share (ttm) stands at $0.92. The company has a PEG of 1.87 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 1.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.25% over the week and 3.41% over the month.
Analysts forecast that Wabash National Corporation (WNC) will achieve an EPS of $0.69 for the current quarter, $0.36 for the next quarter and $2.35 for 2023. The lowest estimate earnings-per-share for the quarter is $0.61 while analysts give the company a high EPS estimate of $0.73. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to increase by 101.20%, and 13.18% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to -58.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Wabash National Corporation (WNC) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 3 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the WNC, a number of firms have released research notes about the stock. Vertical Research stated their Hold rating for the stock in a research note on December 05, 2022, with the firm’s price target at $27. DA Davidson coverage for the Wabash National Corporation (WNC) stock in a research note released on December 17, 2021 offered a Buy rating with a price target of $25. Vertical Research was of a view on March 26, 2021 that the stock is Buy, while Raymond James gave the stock Strong Buy rating on November 21, 2019, issuing a price target of $19. Craig Hallum on their part issued Hold rating on July 31, 2019.
