Wabtec (NYSE:WAB) Price Target Raised to $236.00

Wabtec (NYSE:WAB - Free Report) had its price target lifted by Bank of America from $231.00 to $236.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company's stock.

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

Wabtec Stock Down 0.1%

Wabtec stock traded down $0.15 during trading hours on Tuesday, hitting $213.60. The stock had a trading volume of 380,536 shares, compared to its average volume of 1,064,719. The company has a quick ratio of 0.73, a current ratio of 1.34 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $36.55 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 1.49 and a beta of 1.12. Wabtec has a 12-month low of $147.66 and a 12-month high of $216.10. The stock's 50-day moving average price is $203.30 and its 200-day moving average price is $192.84.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.25. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.61 billion. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. Equities research analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. Wabtec's dividend payout ratio (DPR) is 15.67%.

Insider Activity at Wabtec

In related news, CTO Eric Gebhardt sold 6,151 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 in the company, valued at approximately $3,784,085.83. The trade was a 24.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $806,761.32. Following the sale, the insider owned 11,535 shares of the company's stock, valued at $2,307,461.40. This trade 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 three months. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Wabtec

Large investors have recently added to or reduced their stakes in the business. AGF Management Ltd. bought a new stake in Wabtec during the fourth quarter valued at approximately $10,566,000. Putney Financial Group LLC bought a new position in shares of Wabtec in the fourth quarter worth approximately $52,000. Raiffeisen Bank International AG bought a new stake in shares of Wabtec during the 4th quarter valued at $1,221,000. Mufg Securities Americas Inc. purchased a new position in shares of Wabtec in the fourth quarter valued at about $481,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Wabtec by 114.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,907 shares of the transportation company's stock valued at $741,000 after buying an additional 2,087 shares in the last quarter. 91.69% of the stock is currently owned by 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.