KeyCorp Forecasts Strong Price Appreciation for Wabtec (NYSE:WAB) Stock

Wabtec (NYSE:WAB - Get Free Report) had its target price upped by KeyCorp from $220.00 to $240.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. KeyCorp's target price points to a potential upside of 18.68% from the stock's current price.

Other analysts also recently issued research reports about the company. Susquehanna cut their price objective on Wabtec from $218.00 to $210.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $201.00 target price (up from $175.00) on shares of Wabtec in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of Wabtec from $175.00 to $194.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Wabtec from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Wabtec currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.17.

Wabtec Trading Up 1.1%

Wabtec stock opened at $202.22 on Tuesday. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.12. Wabtec has a 1 year low of $147.66 and a 1 year high of $210.88. The firm's 50 day moving average price is $194.89 and its two-hundred day moving average price is $191.63. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34.

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 analysts' consensus estimates of $2.03 by $0.25. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.61 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. On average, research analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Rafael Santana sold 886 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $185.07, for a total value of $163,972.02. Following the transaction, the chief executive officer now directly owns 201,558 shares of the company's stock, valued at approximately $37,302,339.06. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rogerio Mendonca sold 4,033 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $200.04, for a total value of $806,761.32. Following the sale, the insider now owns 11,535 shares of the company's stock, 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. Over the last three months, insiders sold 103,474 shares of company stock worth $19,996,969. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in shares of Wabtec during the 4th quarter valued at about $52,000. MassMutual Private Wealth & Trust FSB raised its position in Wabtec by 9.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after acquiring an additional 56 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Wabtec in the fourth quarter valued at approximately $204,000. GF Fund Management CO. LTD. bought a new stake in Wabtec in the fourth quarter worth approximately $205,000. Finally, Catalyst Funds Management Pty Ltd grew its position in Wabtec by 200.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company's stock worth $341,000 after acquiring an additional 1,200 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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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