Brokerages Set Wabtec (NYSE:WAB) PT at $216.00

Shares of Wabtec (NYSE:WAB) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $216.00.

Several equities research analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Wabtec from $218.00 to $210.00 and set a “positive” rating for the company 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. JPMorgan Chase & Co. raised their price target on shares of Wabtec from $175.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Bank of America raised their price target on shares of Wabtec from $217.00 to $231.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Finally, KeyCorp restated an “overweight” rating and set a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th.

Wabtec Stock Down 0.2%

NYSE WAB opened at $213.44 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34. The firm has a 50-day simple moving average of $201.05 and a 200 day simple moving average of $192.24. Wabtec has a twelve month low of $147.66 and a twelve month high of $215.83. The stock has a market cap of $36.53 billion, a PE ratio of 33.45, a PEG ratio of 1.58 and a beta of 1.12.

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

Wabtec Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.47%. Wabtec’s dividend payout ratio is 15.67%.

Insider Activity

In related news, CTO Eric Gebhardt sold 6,151 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total transaction of $1,244,900.89. Following the completion of the sale, the chief technology officer directly owned 18,697 shares of the company’s stock, valued at $3,784,085.83. This trade represents a 24.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rafael Santana sold 886 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.23, for a total value of $178,289.78. Following the sale, the chief executive officer directly owned 142,958 shares of the company’s stock, valued at $28,767,438.34. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,588 shares of company stock worth $19,832,997. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wabtec

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Wabtec in the fourth quarter valued at approximately $204,000. AGF Management Ltd. acquired a new stake in shares of Wabtec in the fourth quarter valued at approximately $10,566,000. Catalyst Funds Management Pty Ltd increased its holdings in shares of Wabtec by 200.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company’s stock valued at $341,000 after purchasing an additional 1,200 shares in the last quarter. Twin Tree Management LP increased its holdings in shares of Wabtec by 108.8% in the fourth quarter. Twin Tree Management LP now owns 2,960 shares of the transportation company’s stock valued at $561,000 after purchasing an additional 36,435 shares in the last quarter. Finally, Cibc World Markets Corp increased its holdings in shares of Wabtec by 14.4% in the fourth quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company’s stock valued at $5,169,000 after purchasing an additional 3,441 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

About Wabtec

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.