Brokerages Set Wabtec (NYSE:WAB) Target Price at $237.00

Wabtec (NYSE:WAB) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $237.00.

Several brokerages have recently issued reports on WAB. Susquehanna raised their target price on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price objective for the company in a report on Thursday, January 8th. Bank of America raised their price target on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wells Fargo & Company upped their price objective on Wabtec from $221.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th.

Wabtec Trading Down 0.9%

NYSE:WAB opened at $227.57 on Friday. Wabtec has a 52 week low of $151.81 and a 52 week high of $230.71. The firm has a 50-day moving average price of $214.28 and a two-hundred day moving average price of $203.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42. The firm has a market cap of $38.91 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.88 billion. Wabtec had a return on equity of 13.84% and a net margin of 10.94%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 EPS. On average, equities analysts expect that Wabtec will post 8.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Rogerio Mendonca sold 2,019 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $214.51, for a total value of $433,095.69. Following the sale, the insider directly owned 9,516 shares in the company, valued at approximately $2,041,277.16. The trade was a 17.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,766 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $210.00, for a total transaction of $580,860.00. Following the transaction, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. This represents a 34.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,916 shares of company stock worth $7,090,420 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wabtec

A number of hedge funds and other institutional investors have recently bought and sold shares of WAB. PFS Partners LLC boosted its stake in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after buying an additional 50 shares during the period. Colonial Trust Advisors raised its holdings in shares of Wabtec by 454.5% in the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Piscataqua Savings Bank boosted its position in shares of Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 128 shares during the last quarter. Motco grew its holdings in shares of Wabtec by 6,600.0% during the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Wabtec by 370.6% in the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Company Profile

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.