Wabtec (NYSE:WAB) Price Target Raised to $224.00

by · The Markets Daily

Wabtec (NYSE:WABFree Report) had its target price lifted by Wells Fargo & Company from $221.00 to $224.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the transportation company’s stock.

Several other research firms have also weighed in on WAB. Susquehanna boosted their target price on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Citigroup upped their price objective on Wabtec from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Bank of America lifted their target price on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.11.

Read Our Latest Report on Wabtec

Wabtec Stock Up 1.1%

Shares of NYSE:WAB opened at $216.03 on Wednesday. Wabtec has a 52-week low of $151.81 and a 52-week high of $220.89. The stock has a market cap of $36.93 billion, a P/E ratio of 31.40, a PEG ratio of 1.65 and a beta of 0.99. The business has a fifty day moving average of $204.95 and a two-hundred day moving average of $200.99. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

Wabtec (NYSE:WABGet Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, research analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, November 12th. Wabtec’s dividend payout ratio (DPR) is currently 14.53%.

Insiders Place Their Bets

In related news, insider Michael Fetsko sold 5,058 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $215.72, for a total transaction of $1,091,111.76. Following the completion of the transaction, the insider directly owned 36,882 shares in the company, valued at $7,956,185.04. This trade represents a 12.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rafael Santana sold 1,798 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $212.17, for a total transaction of $381,481.66. Following the sale, the chief executive officer owned 125,941 shares in the company, valued at $26,720,901.97. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,714 shares of company stock valued at $7,441,102. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WAB. Hudson Bay Capital Management LP grew its holdings in shares of Wabtec by 338.1% in the third quarter. Hudson Bay Capital Management LP now owns 92,905 shares of the transportation company’s stock valued at $18,625,000 after purchasing an additional 71,698 shares in the last quarter. Allworth Financial LP boosted its position in Wabtec by 35.6% in the 3rd quarter. Allworth Financial LP now owns 2,308 shares of the transportation company’s stock valued at $463,000 after buying an additional 606 shares during the period. Groupama Asset Managment boosted its position in Wabtec by 73.2% in the 3rd quarter. Groupama Asset Managment now owns 14,323 shares of the transportation company’s stock valued at $2,871,000 after buying an additional 6,055 shares during the period. Investment Research Partners LLC acquired a new position in shares of Wabtec in the third quarter worth $217,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Wabtec during the third quarter worth $4,730,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wabtec Company Profile

(Get Free Report)

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.

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