Wabtec’s (WAB) “Overweight” Rating Reiterated at KeyCorp

Wabtec (NYSE:WAB)‘s stock had its “overweight” rating restated by equities researchers at KeyCorp in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $240.00 price target on the transportation company’s stock, up from their previous price target of $220.00. KeyCorp’s target price would indicate a potential upside of 17.78% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Wabtec from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. Susquehanna lowered their target price on shares of Wabtec from $218.00 to $210.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group restated a “neutral” rating and set a $201.00 price target (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on Wabtec from $175.00 to $194.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Wabtec presently has a consensus rating of “Moderate Buy” and an average price target of $215.17.

Wabtec Stock Performance

NYSE:WAB opened at $203.77 on Tuesday. The firm’s 50-day moving average is $196.24 and its 200-day moving average is $191.81. The company has a market cap of $34.87 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.52 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34. Wabtec has a 52-week low of $147.66 and a 52-week high of $210.88.

Wabtec (NYSE:WAB) last issued 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. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Insider Transactions at Wabtec

In other Wabtec news, insider Pascal Schweitzer sold 4,000 shares of Wabtec stock in a transaction on Friday, April 25th. The stock was sold at an average price of $184.63, for a total value of $738,520.00. Following the completion of the transaction, the insider now owns 11,955 shares in the company, valued at approximately $2,207,251.65. The trade was a 25.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rafael Santana sold 886 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $185.07, for a total transaction of $163,972.02. Following the sale, the chief executive officer now directly owns 201,558 shares in the company, valued at approximately $37,302,339.06. This represents a 0.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,474 shares of company stock valued at $19,996,969 in the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Wabtec

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in Wabtec by 9.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company’s stock valued at $114,000 after buying an additional 56 shares during the last quarter. Greenleaf Trust boosted its holdings in Wabtec by 2.8% in the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock valued at $623,000 after acquiring an additional 93 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Wabtec by 3.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 5,400 shares of the transportation company’s stock worth $1,024,000 after purchasing an additional 200 shares during the period. Putney Financial Group LLC bought a new stake in Wabtec during the 4th quarter worth about $52,000. Finally, DnB Asset Management AS lifted its position in Wabtec by 0.9% during the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company’s stock valued at $9,119,000 after purchasing an additional 414 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wabtec Company Profile

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.