JPMorgan Chase & Co. Cuts Wabtec (NYSE:WAB) Price Target to $200.00

Key Points

• JPMorgan Chase & Co. has lowered Wabtec's price target from $216.00 to $200.00, maintaining a "neutral" rating on the stock, which reflects a potential upside of 5.69% from the previous close.
• Other brokerages have different ratings, with Goldman Sachs setting a price target of $201.00 and Bank of America increasing its target to $236.00, giving Wabtec a "buy" rating.
• Wabtec's stock recently traded at $189.22 after a decline of $4.93 in mid-day trading, with a consensus rating of "Moderate Buy" and a target price averaging $222.57.

Wabtec (NYSE:WAB - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $216.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 3.83% from the company's current price.

Several other brokerages also recently issued reports on WAB. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America raised their price target 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $201.00 target price (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Susquehanna boosted their price target on Wabtec from $210.00 to $235.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Finally, Morgan Stanley raised their price objective on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $222.57.

Wabtec Stock Performance

Wabtec stock traded up $2.81 during mid-day trading on Thursday, hitting $192.62. 730,523 shares of the company's stock traded hands, compared to its average volume of 1,494,481. The firm has a 50 day moving average price of $202.09 and a 200 day moving average price of $192.92. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.93 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. Wabtec has a one year low of $151.81 and a one year high of $216.10.

Wabtec (NYSE:WAB - Get Free Report) last announced 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 return on equity of 13.65% and a net margin of 10.92%.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. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. On average, equities analysts forecast that Wabtec will post 8.54 EPS for the current year.

Insider Transactions at Wabtec

In other news, CEO Rafael Santana sold 886 shares of Wabtec stock in a transaction on Monday, July 7th. The stock was sold at an average price of $213.35, for a total transaction of $189,028.10. Following the transaction, the chief executive officer owned 141,186 shares in the company, valued at $30,122,033.10. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Deninno sold 3,000 shares of Wabtec stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $201.05, for a total value of $603,150.00. Following the completion of the transaction, the vice president owned 60,450 shares of the company's stock, valued at approximately $12,153,472.50. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,222 shares of company stock worth $3,083,767. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Wabtec

Several institutional investors and hedge funds have recently made changes to their positions in WAB. Norges Bank acquired a new position in Wabtec in the second quarter valued at $347,194,000. Pacer Advisors Inc. boosted its stake in shares of Wabtec by 2,220.1% during the 1st quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock valued at $133,843,000 after buying an additional 706,227 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Wabtec during the 2nd quarter valued at approximately $121,612,000. Aviva PLC lifted its holdings in shares of Wabtec by 7,960.0% in the 2nd quarter. Aviva PLC now owns 527,685 shares of the transportation company's stock worth $110,471,000 after purchasing an additional 521,138 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Wabtec by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,930,893 shares of the transportation company's stock valued at $4,172,532,000 after acquiring an additional 493,437 shares during the period. 91.69% of the stock is currently owned by hedge funds and other 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.