Wabtec (NYSE:WAB) Hits New 52-Week High on Analyst Upgrade

Wabtec (NYSE:WAB - Get Free Report) hit a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $231.00 to $236.00. Bank of America currently has a buy rating on the stock. Wabtec traded as high as $216.10 and last traded at $214.73, with a volume of 178891 shares trading hands. The stock had previously closed at $213.10.

Several other equities research analysts also recently commented on WAB. 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. Susquehanna reduced their target price on Wabtec from $218.00 to $210.00 and set a "positive" rating for the company in a report on Thursday, April 24th. KeyCorp reaffirmed an "overweight" rating and set a $240.00 target price (up from $220.00) on shares of Wabtec in a report on Tuesday, June 24th. JPMorgan Chase & Co. upped their price target on Wabtec from $175.00 to $194.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Wabtec from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.83.

Insider Buying and Selling

In other Wabtec news, EVP Lilian Leroux sold 7,500 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $192.19, for a total value of $1,441,425.00. Following the transaction, the executive vice president directly owned 13,755 shares of the company's stock, valued at $2,643,573.45. This represents a 35.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rafael Santana sold 68,833 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $191.70, for a total value of $13,195,286.10. Following the completion of the transaction, the chief executive officer directly owned 145,616 shares in the company, valued at approximately $27,914,587.20. The trade was a 32.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,474 shares of company stock worth $20,022,025. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its stake in Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after purchasing an additional 56 shares during the period. UMB Bank n.a. lifted its position in shares of Wabtec by 22.2% in the 2nd quarter. UMB Bank n.a. now owns 358 shares of the transportation company's stock worth $75,000 after acquiring an additional 65 shares during the period. CX Institutional lifted its position in shares of Wabtec by 6.3% in the 2nd quarter. CX Institutional now owns 1,478 shares of the transportation company's stock worth $309,000 after acquiring an additional 87 shares during the period. Wedmont Private Capital lifted its position in shares of Wabtec by 4.4% in the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the transportation company's stock worth $467,000 after acquiring an additional 92 shares during the period. Finally, Greenleaf Trust lifted its position in shares of Wabtec by 2.8% in the 1st quarter. Greenleaf Trust now owns 3,437 shares of the transportation company's stock worth $623,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

Wabtec Price Performance

The stock has a 50-day simple moving average of $203.30 and a 200 day simple moving average of $192.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.34. The company has a market cap of $36.55 billion, a P/E ratio of 33.51, a P/E/G ratio of 1.49 and a beta of 1.12.

Wabtec (NYSE:WAB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, topping 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 the consensus estimate of $2.61 billion. During the same quarter last year, the company earned $1.89 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. Wabtec's payout ratio is presently 15.67%.

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.