Wabtec (NYSE:WAB) Price Target Raised to $236.00 at Bank of America

Wabtec (NYSE:WAB - Free Report) had its price objective raised by Bank of America from $231.00 to $236.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the transportation company's stock.

Several other equities research analysts have also weighed in on the company. Susquehanna cut their price target on Wabtec from $218.00 to $210.00 and set a "positive" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. KeyCorp reiterated an "overweight" rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Wall Street Zen upgraded Wabtec from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $201.00 price target (up from $175.00) on shares of Wabtec in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.83.

Wabtec Stock Performance

WAB traded up $2.63 on Tuesday, hitting $215.68. The company had a trading volume of 148,447 shares, compared to its average volume of 1,064,481. The company's fifty day moving average price is $202.77 and its 200 day moving average price is $192.69. Wabtec has a 1-year low of $147.66 and a 1-year high of $216.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.34 and a quick ratio of 0.73. The stock has a market cap of $36.91 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.12.

Wabtec (NYSE:WAB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company earned $1.89 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Wabtec's dividend payout ratio is presently 15.67%.

Insider Buying and Selling at Wabtec

In other news, EVP Gina Trombley sold 4,299 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $202.00, for a total transaction of $868,398.00. Following the sale, the executive vice president directly owned 13,696 shares in the company, valued at approximately $2,766,592. The trade was a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rogerio Mendonca sold 4,033 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $200.04, for a total value of $806,761.32. Following the sale, the insider owned 11,535 shares in the company, valued at approximately $2,307,461.40. This represents a 25.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,474 shares of company stock valued at $20,022,025 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wabtec

A number of large investors have recently bought and sold shares of the stock. Wedmont Private Capital grew its position in Wabtec by 4.4% in the second quarter. Wedmont Private Capital now owns 2,190 shares of the transportation company's stock valued at $467,000 after acquiring an additional 92 shares during the period. Swedbank AB grew its position in Wabtec by 8.2% in the second quarter. Swedbank AB now owns 47,470 shares of the transportation company's stock valued at $9,938,000 after acquiring an additional 3,616 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Wabtec by 11.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,649 shares of the transportation company's stock valued at $4,532,000 after acquiring an additional 2,268 shares during the period. Goelzer Investment Management Inc. bought a new stake in Wabtec in the second quarter valued at $209,000. Finally, Aaron Wealth Advisors LLC grew its position in Wabtec by 13.9% in the second quarter. Aaron Wealth Advisors LLC now owns 2,061 shares of the transportation company's stock valued at $431,000 after acquiring an additional 252 shares during the period. 91.69% of the stock is currently owned by institutional investors.

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.