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WNC

Wabash

$15.29

0.25 (1.66%)

08:45
01/22/19
01/22
08:45
01/22/19
08:45

Wabash to divest aviation and truck equipment business to AFI Partners

Wabash National Corporation announced it is selling its Aviation and Truck Equipment business to Garsite Progress, LLC, an entity formed by AFI Partners, a New York-based private equity firm, with the transaction effective today. AVTE, based in Kansas City, Kansas, was added to Wabash National's Diversified Products Group portfolio via the acquisition of Walker Group Holdings in 2012. AVTE includes the Progress Tank brand of truck-mounted tanks for fuels, oil and waste, as well as Garsite branded aircraft refueling equipment. Both businesses will continue operations under ownership of AFI Partners. "Today's announcement reflects our ongoing commitment to assuring we maintain a portfolio of businesses that align with our growth strategy," said Brent Yeagy, president and CEO. "After an extensive evaluation of our AVTE business, the divestiture will create value for investors by streamlining our portfolio and giving us increased financial flexibility to strengthen our balance sheet, return capital to shareholders and pursue future strategic M&A."

  • 30

    Jan

  • 28

    Feb

WNC Wabash
$15.29

0.25 (1.66%)

10/15/18
SPHN
10/15/18
NO CHANGE
Target $15
SPHN
Equal Weight
Wabash price target lowered to $15 from $20 at Stephens
Stephens analyst Brad Delco lowered his near-term and longer-term estimates for Wabash following the company's pre-announcement on Friday, stating that he sees ongoing risk from both higher commodity costs as well as from productivity issues due to the tight labor market. While Wabash has traditionally said it is able to lock in about 70% of its commodity costs at the time of an order, the company's pre-announcement and Supreme acquisition make Delco wonder if this is still the case, he tells investors. He lowered his price target on Wabash shares to $15 from $20 and keeps an Equal Weight rating on the stock.
10/23/18
LOOP
10/23/18
NO CHANGE
Target $25
LOOP
Buy
Wabash price target lowered to $25 from $27 at Loop Capital
Loop Capital analyst Jeffrey Kauffman lowered his price target on Wabash to $25 after its lower than expected Q3 pre-announcement which he found surprising since "industry volumes and trailer orders remained robust". The analyst attributes the underperformance to "congestion costs" amid production slowdowns for supplier part shortages, truck chassis availability challenges, and higher materials costs that are reducing productivity. Based on these findings from industry participant discussions, Kauffman lowers his FY18 EPS view on Wabash to $1.54 from $1.98 and to $2.00 from $2.30, but maintains his Buy rating, anticipating these challenges to fade beyond the near term.
11/15/18
11/15/18
NO CHANGE

Wabash increases stock repurchase program by $100M
Wabash has authorized the company to repurchase up to an additional $100M of its common stock through February 2022, representing approximately 12% of the company's current market capitalization. This is an increase to the existing repurchase program approved in February 2017, of which approximately $5M was available as of November 14.
12/31/18
MZHO
12/31/18
NO CHANGE
MZHO
Mizuho still neutral on Trucking Equipment group after monthly survey
Mizuho analyst Kristine Kubacki remains neutral on the Trucking Equipment group after her firm's monthly dealer survey suggested that December was similar to November in terms of orders, sentiment, cancellations and new/used inventory levels. The group includes Paccar (PCAR), Cummins (CMI), Wabash (WNC), Wabco (WBC). The analyst still expects that when December is complete, backlog will remain elevated at 300,000 units. Good news is actually bad news for the group as the larger the backlog gets, the "bigger bubble of potential future trucking capacity grows," Kubacki tells investors in a research note. The analyst believes 23,000-25,000 trucks were ordered in December versus 37,600 trucks in the same period a year ago and 28,100 trucks last month.

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CRTO

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MCD

McDonald's

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-1.11 (-0.59%)

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SSNLF

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AWR

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MEOH

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BECN

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CTMX

CytomX Therapeutics

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HPQ

HP Inc.

$18.97

-0.4 (-2.07%)

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PEGA

Pegasystems

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SMTC

Semtech

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TMO

Thermo Fisher

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DJX

Dow Jones Industrial Average

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MCD

McDonald's

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-1.11 (-0.59%)

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BA

Boeing

$370.52

8.37 (2.31%)

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ACHC

Acadia

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AAPL

Apple

$188.78

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ZFGN

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NOC

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