Municipal Employees Retirement System of Michigan grew its position in Wabash National Corporation (NYSE:WNC) by 59.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,570 shares of the company’s stock after acquiring an additional 8,430 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Wabash National were worth $515,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of WNC. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Wabash National by 222.0% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 884,978 shares of the company’s stock valued at $19,451,000 after acquiring an additional 610,175 shares during the period. Royce & Associates LP raised its stake in shares of Wabash National by 17.9% during the second quarter. Royce & Associates LP now owns 3,708,103 shares of the company’s stock worth $81,504,000 after purchasing an additional 563,247 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Wabash National by 33.7% during the second quarter. Victory Capital Management Inc. now owns 1,236,193 shares of the company’s stock worth $27,171,000 after purchasing an additional 311,897 shares during the last quarter. New Amsterdam Partners LLC NY raised its stake in shares of Wabash National by 96.4% during the second quarter. New Amsterdam Partners LLC NY now owns 451,397 shares of the company’s stock worth $9,922,000 after purchasing an additional 221,530 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Wabash National during the second quarter worth approximately $4,666,000.
Several equities research analysts have recently commented on WNC shares. Stifel Nicolaus cut their price target on Wabash National from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, November 6th. ValuEngine upgraded Wabash National from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Wabash National from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, September 27th. Craig Hallum restated a “buy” rating and set a $27.00 price target on shares of Wabash National in a research note on Friday, October 6th. Finally, Aegis upped their price target on Wabash National from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $22.86.
Wabash National (NYSE:WNC) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.05). The business had revenue of $425.10 million during the quarter, compared to analysts’ expectations of $449.05 million. Wabash National had a return on equity of 18.42% and a net margin of 5.05%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. sell-side analysts anticipate that Wabash National Corporation will post 1.36 EPS for the current fiscal year.
Wabash National Company Profile
Wabash National Corporation is a diversified industrial manufacturer and producer of semi-trailers and liquid transportation systems. The Company’s segments include Commercial Trailer Products; Diversified Products, and Corporate and Eliminations segment. The Company designs, manufactures and markets a range of products, including dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, truck-mounted tanks, intermodal equipment, aircraft refueling equipment, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment.
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