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Why the Market Dipped But Wabash National (WNC) Gained Today

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In the latest market close, Wabash National (WNC - Free Report) reached $28.46, with a +0.46% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.

Heading into today, shares of the maker of truck trailers had gained 10.36% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 0.42% and the S&P 500's gain of 5.34% in that time.

The investment community will be paying close attention to the earnings performance of Wabash National in its upcoming release. The company is predicted to post an EPS of $0.45, indicating a 56.73% decline compared to the equivalent quarter last year.

It is also important to note the recent changes to analyst estimates for Wabash National. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.37% lower within the past month. Wabash National currently has a Zacks Rank of #5 (Strong Sell).

From a valuation perspective, Wabash National is currently exchanging hands at a Forward P/E ratio of 12.94. This valuation marks a discount compared to its industry's average Forward P/E of 13.08.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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