Wabtec (NYSE:WAB) Price Target Raised to $233.00

by · The Cerbat Gem

Wabtec (NYSE:WAB – Get Free Report) had its target price lifted by research analysts at Bank of America from $228.00 to $233.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential upside of 13.53% from the company’s current price.

A number of other brokerages have also recently issued reports on WAB. Susquehanna lifted their price objective on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a report on Wednesday, October 8th. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley upped their price objective on Wabtec from $220.00 to $226.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their price objective on Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.00.

View Our Latest Stock Analysis on WAB

Wabtec Price Performance

Shares of NYSE:WAB traded down $4.42 during trading on Thursday, reaching $205.23. 337,299 shares of the company traded hands, compared to its average volume of 1,057,078. The firm has a market capitalization of $35.09 billion, a PE ratio of 29.82, a PEG ratio of 1.55 and a beta of 1.09. Wabtec has a 52 week low of $151.81 and a 52 week high of $216.10. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $197.04 and its two-hundred day moving average is $198.86.

Wabtec (NYSE:WAB – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Wabtec’s revenue for the quarter was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, sell-side analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Insider Transactions at Wabtec

In other news, VP David L. Deninno sold 2,100 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $199.87, for a total transaction of $419,727.00. Following the sale, the vice president directly owned 60,450 shares in the company, valued at approximately $12,082,141.50. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory Sbrocco sold 2,424 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $203.77, for a total transaction of $493,938.48. Following the completion of the transaction, the executive vice president owned 15,405 shares of the company’s stock, valued at approximately $3,139,076.85. This trade represents a 13.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,556 shares of company stock valued at $3,685,311. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PFS Partners LLC lifted its holdings in Wabtec by 70.4% in the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after buying an additional 50 shares during the period. Colonial Trust Advisors raised its position in shares of Wabtec by 454.5% in the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. Piscataqua Savings Bank raised its position in shares of Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after acquiring an additional 128 shares in the last quarter. Motco lifted its stake in shares of Wabtec by 6,600.0% in the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares during the period. Finally, Salomon & Ludwin LLC boosted its position in shares of Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Company Profile

(Get Free Report)

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.

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