Wabtec (NYSE:WAB) Sets New 52-Week High – Here’s What Happened

by · The Markets Daily

Wabtec (NYSE:WABGet Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $239.08 and last traded at $238.1050, with a volume of 151150 shares. The stock had previously closed at $233.69.

Analyst Ratings Changes

WAB has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $215.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Susquehanna boosted their target price on shares of Wabtec from $240.00 to $280.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Check Out Our Latest Stock Analysis on WAB

Wabtec Stock Performance

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 has a market capitalization of $40.21 billion, a PE ratio of 34.18, a PEG ratio of 1.57 and a beta of 1.00. The company has a 50-day moving average price of $219.77 and a two-hundred day moving average price of $204.65.

Insider Transactions at Wabtec

In related news, VP David L. Deninno sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $214.62, for a total value of $1,073,100.00. Following the sale, the vice president owned 50,450 shares in the company, valued at approximately $10,827,579. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rafael Santana sold 1,798 shares of Wabtec stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $212.17, for a total value of $381,481.66. Following the sale, the chief executive officer directly owned 125,941 shares of the company’s stock, valued at $26,720,901.97. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,641 shares of company stock valued at $5,233,559. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Wabtec

A number of large investors have recently added to or reduced their stakes in the company. CI Investments Inc. raised its holdings in shares of Wabtec by 6.1% during the 3rd quarter. CI Investments Inc. now owns 865 shares of the transportation company’s stock valued at $173,000 after buying an additional 50 shares in the last quarter. Carnegie Investment Counsel grew its position in Wabtec by 2.6% during the fourth quarter. Carnegie Investment Counsel now owns 2,051 shares of the transportation company’s stock valued at $438,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Wabtec by 7.3% during the second quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 54 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Wabtec by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 4,082 shares of the transportation company’s stock worth $818,000 after acquiring an additional 54 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of Wabtec by 7.9% in the 2nd quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Wabtec

(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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