Wabtec (NYSE:WAB) Given New $231.00 Price Target at Bank of America

Wabtec (NYSE:WAB - Get Free Report) had its price target upped by Bank of America from $217.00 to $231.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Bank of America's target price points to a potential upside of 10.77% from the stock's current price.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group reissued 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. Wall Street Zen upgraded Wabtec from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th. KeyCorp reissued an "overweight" rating and issued a $240.00 target price (up from $220.00) on shares of Wabtec in a report on Tuesday. Susquehanna lowered their price objective on Wabtec from $218.00 to $210.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Wabtec Stock Up 1.1%

Shares of NYSE:WAB traded up $2.24 during midday trading on Friday, reaching $208.53. The company's stock had a trading volume of 81,389 shares, compared to its average volume of 1,072,493. Wabtec has a 12-month low of $147.66 and a 12-month high of $210.88. The firm has a 50 day moving average of $196.94 and a 200-day moving average of $191.84. The firm has a market capitalization of $35.69 billion, a P/E ratio of 32.69, a PEG ratio of 1.51 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 1.34 and a debt-to-equity ratio of 0.34.

Wabtec (NYSE:WAB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.25. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Wabtec will post 8.54 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Rogerio Mendonca sold 4,033 shares of Wabtec stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $200.04, for a total transaction of $806,761.32. Following the sale, the insider now directly owns 11,535 shares of the company's stock, valued at approximately $2,307,461.40. The trade was a 25.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rafael Santana sold 68,833 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $191.70, for a total value of $13,195,286.10. Following the completion of the sale, the chief executive officer now directly owns 145,616 shares of the company's stock, valued at approximately $27,914,587.20. This represents a 32.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,474 shares of company stock worth $19,996,969 in the last quarter. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Wabtec

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

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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