JPMorgan Chase & Co. Raises Wabtec (NYSE:WAB) Price Target to $215.00

Key Points

• JPMorgan Chase & Co. has increased its price target for Wabtec from $200.00 to $215.00, implying a potential upside of 10.72% from the current stock price.
• Multiple analysts have given Wabtec various ratings, with Morgan Stanley assigning an "overweight" rating and a target of $226.00, while Citigroup started coverage with a "buy" rating and a price target of $225.00.
• Wabtec reported earnings of $2.27 per share for the latest quarter, exceeding expectations, and set its FY 2025 guidance between $8.550 to $9.150 EPS.

Wabtec (NYSE:WAB - Get Free Report) had its price target lifted by research analysts at JPMorgan Chase & Co. from $200.00 to $215.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 10.72% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their target price on shares of Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Wall Street Zen downgraded Wabtec from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup started coverage on Wabtec in a report on Monday, September 22nd. They issued a "buy" rating and a $225.00 price target for the company. Susquehanna lifted their target price on Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Finally, KeyCorp reissued an "overweight" rating and issued a $240.00 price target (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $224.75.

Wabtec Price Performance

WAB traded up $0.65 on Tuesday, reaching $194.19. The company had a trading volume of 23,268 shares, compared to its average volume of 1,068,498. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.48 and a beta of 1.10. Wabtec has a 52-week low of $151.81 and a 52-week high of $216.10. The business has a 50 day simple moving average of $193.11 and a 200 day simple moving average of $194.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76.

Wabtec (NYSE:WAB - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The business's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. As a group, sell-side analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 1,798 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $189.63, for a total value of $340,954.74. Following the completion of the sale, the chief executive officer directly owned 134,931 shares of the company's stock, valued at $25,586,965.53. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 4,483 shares of company stock worth $853,558. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wabtec

Several hedge funds have recently bought and sold shares of WAB. ORG Partners LLC boosted its holdings in Wabtec by 25.8% in the second quarter. ORG Partners LLC now owns 512 shares of the transportation company's stock valued at $107,000 after acquiring an additional 105 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Wabtec by 5.7% during the second quarter. Parallel Advisors LLC now owns 2,147 shares of the transportation company's stock worth $450,000 after acquiring an additional 115 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in Wabtec in the second quarter valued at about $263,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Wabtec by 11.7% during 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 purchasing an additional 2,268 shares during the last quarter. Finally, Covea Finance grew its holdings in shares of Wabtec by 2.8% during the second quarter. Covea Finance now owns 115,948 shares of the transportation company's stock valued at $24,274,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.

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