Wabtec (NYSE:WAB) Stock Has Consensus Target Price of $328.90 According to Analysts

Key Points

• Analysts rate Wabtec a “Moderate Buy”: Nine of 11 covering brokerages recommend buying, and the average 12-month price target is $328.90, versus a recent share price of $297.68.
• Quarterly results were mixed: Wabtec reported EPS of $2.83, beating the $2.73 consensus, while revenue of $3.12 billion fell short of the $3.20 billion estimate; revenue rose 8.1% year over year.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 0.4% yield. Insiders sold 5,289 shares worth about $1.56 million over the last quarter.

Wabtec (NYSE:WAB - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $328.90.

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Wabtec from $284.00 to $315.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Jefferies Financial Group increased their target price on Wabtec from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Wall Street Zen cut Wabtec from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Morgan Stanley boosted their price target on Wabtec from $318.00 to $355.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Rothschild & Co Redburn dropped their price target on Wabtec from $293.00 to $292.00 and set a "buy" rating for the company in a research note on Wednesday, July 29th.

Insiders Place Their Bets

In other news, EVP Gregory Sbrocco sold 952 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $300.00, for a total value of $285,600.00. Following the completion of the sale, the executive vice president owned 21,043 shares of the company's stock, valued at $6,312,900. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Fetsko sold 3,250 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $293.22, for a total transaction of $952,965.00. Following the completion of the transaction, the insider owned 37,380 shares of the company's stock, valued at $10,960,563.60. This trade represents a 8.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,289 shares of company stock worth $1,555,741 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wabtec

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in Wabtec by 30.0% in the third quarter. Empowered Funds LLC now owns 12,825 shares of the transportation company's stock worth $3,683,000 after acquiring an additional 2,960 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Wabtec by 105.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 163,242 shares of the transportation company's stock worth $46,880,000 after acquiring an additional 83,734 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Wabtec by 7.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 151,618 shares of the transportation company's stock worth $43,542,000 after purchasing an additional 10,019 shares in the last quarter. Insigneo Advisory Services LLC acquired a new position in Wabtec in the 3rd quarter valued at approximately $221,000. Finally, Essex Financial Services Inc. lifted its holdings in shares of Wabtec by 2.1% during the 3rd quarter. Essex Financial Services Inc. now owns 2,019 shares of the transportation company's stock valued at $580,000 after buying an additional 42 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Wabtec Price Performance

WAB traded down $2.83 during midday trading on Friday, reaching $297.68. 809,997 shares of the company's stock were exchanged, compared to its average volume of 1,098,791. Wabtec has a 1-year low of $194.93 and a 1-year high of $307.96. The stock has a market capitalization of $49.95 billion, a PE ratio of 36.98, a P/E/G ratio of 1.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.10 and a quick ratio of 0.56. The business's 50-day moving average price is $286.21 and its 200 day moving average price is $270.87.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.10. Wabtec had a return on equity of 15.72% and a net margin of 11.20%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the firm posted $2.32 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts anticipate that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 annualized dividend and a dividend yield of 0.4%. Wabtec's dividend payout ratio is presently 15.40%.

Wabtec Company Profile

Wabtec Corporation NYSE: WAB, also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance. The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.

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