Analysts Set Wabtec (NYSE:WAB) PT at $221.00

Key Points

• Wabtec (NYSE:WAB) has received an average rating of "Moderate Buy" from analysts, with four buy ratings and two holds among six covering firms.
• Analysts have set a 12-month price target ranging from $194.00 to $240.00, indicating optimism about the company's growth potential.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting a modest annualized dividend yield of 0.51%.

Shares of Wabtec (NYSE:WAB - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $221.71.

Several research firms recently weighed in on WAB. KeyCorp reiterated an "overweight" rating and set a $240.00 target price (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Bank of America increased their target price on 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 set a $201.00 target price (up from $175.00) on shares of Wabtec in a research report on Wednesday, April 23rd. Morgan Stanley increased their target price on Wabtec from $220.00 to $226.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Wall Street Zen upgraded Wabtec from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

Insider Buying and Selling at Wabtec

In related news, EVP Gina Trombley sold 4,299 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $202.00, for a total transaction of $868,398.00. Following the sale, the executive vice president directly owned 13,696 shares in the company, valued at approximately $2,766,592. This trade represents a 23.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David L. Deninno sold 3,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $201.05, for a total value of $603,150.00. Following the sale, the vice president owned 60,450 shares in the company, valued at approximately $12,153,472.50. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,474 shares of company stock worth $19,283,505. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. DnB Asset Management AS boosted its position in Wabtec by 0.9% during the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company's stock worth $9,119,000 after acquiring an additional 414 shares during the period. Twin Capital Management Inc. increased its position in Wabtec by 4.3% in the 4th quarter. Twin Capital Management Inc. now owns 15,832 shares of the transportation company's stock worth $3,002,000 after purchasing an additional 647 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in Wabtec in the 4th quarter worth about $481,000. Raiffeisen Bank International AG bought a new stake in shares of Wabtec during the 4th quarter worth about $1,221,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Wabtec during the 4th quarter worth about $205,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Wabtec Price Performance

Wabtec stock traded down $2.36 during trading hours on Friday, hitting $190.42. The stock had a trading volume of 2,763,024 shares, compared to its average volume of 1,056,649. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 1.05. The stock has a market capitalization of $32.55 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.54 and a beta of 1.12. Wabtec has a 1-year low of $147.66 and a 1-year high of $216.10. The stock's fifty day moving average is $205.51 and its two-hundred day moving average is $194.30.

Wabtec (NYSE:WAB - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the firm earned $1.96 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Wabtec's payout ratio is currently 14.93%.

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.