Brokerages Set Wabtec (NYSE:WAB) Target Price at $222.57

Shares of Wabtec (NYSE:WAB) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $222.5714.

Several equities research analysts recently commented on WAB shares. JPMorgan Chase & Co. cut their price target on Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Susquehanna upped their target price on Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a report on Friday, July 25th. KeyCorp reiterated an “overweight” rating and set a $240.00 price target (up previously from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Morgan Stanley boosted their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Bank of America raised their price objective on shares of Wabtec from $231.00 to $236.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th.

Wabtec Stock Performance

NYSE:WAB opened at $185.54 on Monday. The company has a market cap of $31.72 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.49 and a beta of 1.11. Wabtec has a twelve month low of $151.81 and a twelve month high of $216.10. The company’s 50-day moving average price is $195.89 and its 200-day moving average price is $192.59. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. Wabtec’s quarterly revenue was up 2.3% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, sell-side analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th 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 of this dividend was Thursday, August 14th. Wabtec’s payout ratio is presently 14.93%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 1,799 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $189.97, for a total value of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 5,369 shares of company stock valued at $1,042,586 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Wabtec

A number of hedge funds have recently modified their holdings of the business. Voya Investment Management LLC raised its holdings in Wabtec by 5.5% in the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company’s stock valued at $19,016,000 after buying an additional 5,423 shares during the period. New York State Common Retirement Fund increased its position in shares of Wabtec by 16.0% during the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock valued at $25,781,000 after acquiring an additional 19,600 shares during the last quarter. Raiffeisen Bank International AG raised its stake in shares of Wabtec by 159.0% in the 1st quarter. Raiffeisen Bank International AG now owns 16,561 shares of the transportation company’s stock valued at $3,011,000 after acquiring an additional 10,168 shares during the period. Putney Financial Group LLC acquired a new position in shares of Wabtec in the 4th quarter worth approximately $52,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Wabtec by 46.0% during the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company’s stock worth $69,057,000 after purchasing an additional 120,057 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.