Wabtec (NYSE:WAB) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wabtec has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting changing analyst sentiment on the stock.
• Despite the downgrade, Wabtec remains popular among analysts, with a consensus rating of "Moderate Buy" and an average price target of $221.71.
• Insider trading activity includes significant sales by executives, with one selling over $800,000 worth of shares, indicating potential concerns among company insiders.

Wabtec (NYSE:WAB - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Several other research analysts have also recently commented on WAB. Morgan Stanley raised 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. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $201.00 target price (up from $175.00) on shares of Wabtec in a report on Wednesday, April 23rd. Bank of America raised their target price on shares of Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised 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. Finally, Susquehanna raised their target price on shares of Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Wabtec has an average rating of "Moderate Buy" and a consensus price target of $221.71.

Wabtec Stock Performance

Wabtec stock traded up $0.69 during trading hours on Friday, hitting $192.60. The company had a trading volume of 398,439 shares, compared to its average volume of 1,091,468. The firm has a market cap of $32.93 billion, a PE ratio of 28.78, a PEG ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. Wabtec has a one year low of $151.81 and a one year high of $216.10. The firm has a 50-day moving average of $203.64 and a 200 day moving average of $193.45.

Wabtec (NYSE:WAB - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating 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 period in the prior year, the firm earned $1.96 EPS. On average, sell-side analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Insider Buying and Selling at Wabtec

In other news, VP David L. Deninno sold 3,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $201.05, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rafael Santana sold 886 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $213.35, for a total transaction of $189,028.10. Following the transaction, the chief executive officer directly owned 141,186 shares of the company's stock, valued at $30,122,033.10. The trade was a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,222 shares of company stock worth $3,083,767 over the last ninety days. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Wabtec

Large investors have recently modified their holdings of the business. PFS Partners LLC raised its stake in shares of Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Trust Co. of Vermont raised its stake in Wabtec by 44.2% during the second quarter. Trust Co. of Vermont now owns 163 shares of the transportation company's stock worth $34,000 after buying an additional 50 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in Wabtec by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company's stock worth $43,000 after buying an additional 48 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Wabtec during the second quarter worth $44,000. Finally, NewSquare Capital LLC raised its stake in Wabtec by 125.3% during the second quarter. NewSquare Capital LLC now owns 223 shares of the transportation company's stock worth $47,000 after buying an additional 124 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

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.