Wabtec (NYSE:WAB) Given New $235.00 Price Target at Susquehanna

Key Points

• Wabtec's target price was raised by Susquehanna from $210.00 to $235.00, indicating a potential upside of 17.13% from its previous close.
• In its recent earnings report, Wabtec posted $2.27 earnings per share, exceeding analysts' estimates of $2.18, while its revenue was slightly below expectations at $2.71 billion.
• The stock currently holds an average rating of "Moderate Buy" from various analysts, with five out of seven ratings as a buy.

Wabtec (NYSE:WAB - Get Free Report) had its target price boosted by analysts at Susquehanna from $210.00 to $235.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "positive" rating on the transportation company's stock. Susquehanna's price objective indicates a potential upside of 17.13% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group restated a "neutral" rating and set a $201.00 price objective (up from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target 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. KeyCorp reissued an "overweight" rating and issued a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Wall Street Zen raised Wabtec from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Bank of America lifted their target price on Wabtec from $231.00 to $236.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $221.00.

Wabtec Price Performance

Shares of NYSE WAB opened at $200.64 on Friday. Wabtec has a fifty-two week low of $147.66 and a fifty-two week high of $216.10. The firm's 50-day simple moving average is $206.41 and its 200 day simple moving average is $194.12. The company has a quick ratio of 0.73, a current ratio of 1.34 and a debt-to-equity ratio of 0.34. The stock has a market cap of $34.34 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.53 and a beta of 1.12.

Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Wabtec will post 8.54 EPS for the current year.

Insiders Place Their Bets

In related news, VP David L. Deninno sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $201.05, for a total value of $603,150.00. Following the completion of the sale, the vice president directly owned 60,450 shares in the company, valued at approximately $12,153,472.50. The trade was a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Eric Gebhardt sold 6,151 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $202.39, for a total value of $1,244,900.89. Following the completion of the sale, the chief technology officer owned 18,697 shares of the company's stock, valued at approximately $3,784,085.83. This trade represents a 24.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,474 shares of company stock worth $19,283,505 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Wabtec

A number of institutional investors and hedge funds have recently modified their holdings of WAB. Aberdeen Group plc grew its position in Wabtec by 0.4% in the second quarter. Aberdeen Group plc now owns 212,350 shares of the transportation company's stock valued at $44,486,000 after acquiring an additional 930 shares during the period. PDS Planning Inc grew its position in Wabtec by 12.9% in the second quarter. PDS Planning Inc now owns 1,891 shares of the transportation company's stock valued at $396,000 after acquiring an additional 216 shares during the period. L. Roy Papp & Associates LLP grew its position in Wabtec by 4.6% in the second quarter. L. Roy Papp & Associates LLP now owns 3,376 shares of the transportation company's stock valued at $707,000 after acquiring an additional 150 shares during the period. 3Chopt Investment Partners LLC bought a new stake in Wabtec in the second quarter valued at $214,000. Finally, Callan Family Office LLC bought a new position in Wabtec in the second quarter valued at about $607,000. 91.69% of the stock is currently 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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