Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
American Axle & Manufacturing Holdings, Inc. (AXL) - free report >>
General Motors Company (GM) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
American Axle & Manufacturing Holdings, Inc. (AXL) - free report >>
General Motors Company (GM) - free report >>
Image: Bigstock
Wabash National Boosts Share Buyback by $100M, Stock Up
Share price of Wabash National Corporation (WNC - Free Report) increased 1% to $20.85 after the company announced a raise in its share repurchase authorization. The board of directors has authorized to repurchase shares worth of $100 million over the next two years. This authorization is in addition to the $100 million grant issued in Feb 2016. The company had around $15 million available under the previous authorization as of Feb 23, 2017.
Wabash National will undertake this authorization either in open market or in private transactions. In 2016, Wabash National repurchased shares worth $77 million.
Recently, the board of directors declared a quarterly dividend of 6 cents per share. The dividend will be paid on Apr 27, 2017, to shareholders of record as of Apr 6, 2017. Wabash National is undertaking this capital deployment strategy in order to boost shareholders’ value.
Wabash National Corporation Price
Wabash National Corporation Price | Wabash National Corporation Quote
Price Performance
Wabash National outperformed the Zacks categorized Auto/Truck-Original Equipment industry over the past three months. The company’s shares gained 54.6% over this period, as compared with the industry’s gain of 11.8%.
Zacks Rank & Key Picks
Wabash National currently carries a Zacks Rank #1 (Strong Buy).
Other better-ranked companies in the auto space include Lear Corporation (LEA - Free Report) , American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and General Motors Company (GM - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
For the current year, Lear Corporation, American Axle and General Motors expect earnings growth of around 8.9%, 8.1% and 9.4%, respectively.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>