Wabash National (WNC) Stock Drops Despite Market Gains: Important Facts to Note
Wabash National (WNC) closed the latest trading day at $25.15, indicating a -0.36% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
Coming into today, shares of the maker of truck trailers had gained 2.06% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.15%, while the S&P 500 gained 2.9%.
Investors will be eagerly watching for the performance of Wabash National in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.89, showcasing a 5.95% upward movement from the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Wabash National. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 16.06% lower. Wabash National is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Wabash National is at present trading with a Forward P/E ratio of 9.19. This denotes a discount relative to the industry's average Forward P/E of 11.56.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Wabash National Corporation (WNC) : Free Stock Analysis Report
