Wabash National (WNC) Rises But Trails Market: What Investors Should Know
Wabash National (WNC) closed at $21.77 in the latest trading session, marking a +0.65% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 1.06% for the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
Coming into today, shares of the maker of truck trailers had lost 1.1% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.23%, while the S&P 500 lost 3%.
Analysts and investors alike will be keeping a close eye on the performance of Wabash National in its upcoming earnings disclosure. The company's earnings report is set to go public on October 25, 2023. The company's upcoming EPS is projected at $0.97, signifying a 32.88% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Wabash National. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.7% higher. Wabash National is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Wabash National has a Forward P/E ratio of 4.76 right now. This represents a discount compared to its industry's average Forward P/E of 13.07.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 147, finds itself in the bottom 42% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wabash National Corporation (WNC) : Free Stock Analysis Report
