Big changes are happening at Wabash National Corporation (NYSE:WNC), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 3.33% or (0.5 points) to $15.51 from its previous close of $15.01. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 234627 contracts so far this session. WNC shares had a relatively better volume day versus average trading capacity of 422.76 thousand shares, but with a 52.65 million float and a -0.92% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WNC stock indicates that the average analyst price target is $16.6 per share. This means the stock has a potential increase of 7.03% from where the WNC share price has been trading recently which is between $14.95 and $15.27.
During the recent trading session for Wabash National Corporation (NYSE:WNC), the company witnessed their stock rise $0.62 over a week and surge $0.66 from the price 20 days ago. When compared to their established 52-week high of $16.7, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/07/19. The recent low of $12.25 stood for a -7.13% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.1 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Wabash National Corporation, the two-week RSI stands at 57.92. This figure suggests that WNC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current WNC readings is similarly very revealing as it has a stochastic reading of 62.28% at this stage. This figure means that WNC share price today is being neutral.
Technical chart claims that Wabash National Corporation (WNC) would settle between $15.2/share to $15.4/share level. However, if the stock price goes below the $14.88 mark, then the market for Wabash National Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $14.76 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James, assumed coverage of WNC assigning Strong Buy rating, according to their opinion released on November 21. Craig Hallum analysts have lowered their rating of Wabash National Corporation (NYSE:WNC) stock from Buy to Hold in a separate flash note issued to investors on July 31. Analysts at Stifel are sticking to their Hold stance. However, on February 01, they lifted price target for these shares to $26 from $23.
WNC equity has an average rating of 2.4, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Wabash National Corporation (NYSE:WNC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WNC stock price is currently trading at 10.57X forward 12-month Consensus EPS estimates, and its P/E ratio is 10.1 while for the average stock in the same group, the multiple is 13.6. Wabash National Corporation current P/B ratio of 1.6 means it is trading at a discount against its industry’s 4.1.
Wabash National Corporation (WNC)’s current-quarter revenues are projected to climb by nearly -3.3% to hit $590170, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 2.8% from $2.27 billion to a noteworthy $2.33 billion. At the other end of the current quarter income statement, Wabash National Corporation is expected to see its adjusted earnings surge by roughly 2.6% to hit $0.39 per share. For the fiscal year, WNC’s earnings are projected to climb by roughly 16.7% to hit $1.68 per share.