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Analysts Set Wabtec (NYSE:WAB) PT at $216.00

Wabtec logo with Transportation background

Shares of Wabtec (NYSE:WAB - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $216.00.

A number of equities analysts recently issued reports on WAB shares. Susquehanna reduced their target price on Wabtec from $218.00 to $210.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. 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 report on Wednesday, April 23rd. Bank of America raised their price target on shares of Wabtec from $217.00 to $231.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. KeyCorp reaffirmed an "overweight" rating and issued a $240.00 price objective (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Wabtec from a "buy" rating to a "hold" rating in a research note on Friday, June 27th.

Check Out Our Latest Analysis on WAB

Insiders Place Their Bets

In other news, CTO Eric Gebhardt sold 6,151 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total transaction of $1,244,900.89. Following the sale, the chief technology officer directly owned 18,697 shares in the company, valued at $3,784,085.83. This trade represents a 24.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rogerio Mendonca sold 4,033 shares of the stock in a transaction that occurred 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 transaction, the insider owned 11,535 shares in the company, valued at $2,307,461.40. This represents a 25.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,588 shares of company stock valued at $19,832,997. Insiders own 1.10% of the company's stock.

Institutional Trading of Wabtec

Several institutional investors have recently modified their holdings of WAB. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Wabtec during the 4th quarter worth about $204,000. AGF Management Ltd. purchased a new position in shares of Wabtec in the fourth quarter valued at approximately $10,566,000. Catalyst Funds Management Pty Ltd boosted its stake in shares of 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 during the last quarter. Twin Tree Management LP increased its position in shares of Wabtec by 108.8% during the fourth quarter. Twin Tree Management LP now owns 2,960 shares of the transportation company's stock worth $561,000 after purchasing an additional 36,435 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in Wabtec by 14.4% in the 4th quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company's stock valued at $5,169,000 after purchasing an additional 3,441 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Wabtec Stock Up 2.1%

Shares of WAB stock traded up $4.47 during trading hours on Wednesday, reaching $213.81. 1,244,555 shares of the company's stock were exchanged, compared to its average volume of 1,071,886. Wabtec has a 1 year low of $147.66 and a 1 year high of $213.93. The company has a current ratio of 1.34, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. The stock has a market cap of $36.59 billion, a PE ratio of 33.51, a PEG ratio of 1.55 and a beta of 1.12. The stock's fifty day moving average price is $199.27 and its two-hundred day moving average price is $191.91.

Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.25. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. Wabtec's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. Research analysts predict that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. Wabtec's dividend payout ratio is presently 15.67%.

About Wabtec

(Get Free Report

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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