Wabtec (NYSE:WAB) Price Target Raised to $231.00

by · The Cerbat Gem

Wabtec (NYSE:WABFree Report) had its price target increased by Bank of America from $217.00 to $231.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Wabtec from $175.00 to $194.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. The Goldman Sachs Group restated a “neutral” rating and issued a $201.00 price target (up from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Susquehanna reduced their price target on Wabtec from $218.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded Wabtec from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. Finally, KeyCorp reiterated an “overweight” rating and set a $240.00 target price (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

Read Our Latest Stock Report on WAB

Wabtec Stock Performance

Shares of NYSE WAB opened at $207.57 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. Wabtec has a 12 month low of $147.66 and a 12 month high of $210.88. The stock has a 50 day moving average of $197.68 and a 200-day moving average of $191.72. The company has a market capitalization of $35.52 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.54 and a beta of 1.12.

Wabtec (NYSE:WABGet Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.25. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Wabtec’s payout ratio is 15.67%.

Insider Activity

In other news, EVP Lilian Leroux sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $192.19, for a total transaction of $1,441,425.00. Following the completion of the transaction, the executive vice president now owns 13,755 shares of the company’s stock, valued at approximately $2,643,573.45. The trade was a 35.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rafael Santana sold 886 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.23, for a total value of $178,289.78. Following the transaction, the chief executive officer now directly owns 142,958 shares of the company’s stock, valued at $28,767,438.34. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,474 shares of company stock worth $19,996,969. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wabtec

Institutional investors have recently modified their holdings of the business. Putney Financial Group LLC acquired a new position in shares of Wabtec during the 4th quarter worth $52,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company’s stock worth $114,000 after buying an additional 56 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Wabtec during the 4th quarter worth $204,000. GF Fund Management CO. LTD. acquired a new position in Wabtec in the 4th quarter worth about $205,000. Finally, Catalyst Funds Management Pty Ltd increased its holdings in Wabtec by 200.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company’s stock worth $341,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Wabtec

(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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