Wabtec (NYSE:WAB) Hits New 12-Month High - What's Next?

Wabtec (NYSE:WAB - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $216.10 and last traded at $214.73, with a volume of 178891 shares changing hands. The stock had previously closed at $213.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WAB shares. The Goldman Sachs Group restated a "neutral" rating and set a $201.00 price objective (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Wall Street Zen upgraded Wabtec from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp restated an "overweight" rating and set a $240.00 price objective (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. Bank of America boosted their price objective on Wabtec from $231.00 to $236.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Susquehanna cut their price target on Wabtec from $218.00 to $210.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $216.83.

Wabtec Price Performance

The company has a 50 day simple moving average of $202.20 and a 200-day simple moving average of $192.55. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.58 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 earnings results on Wednesday, April 23rd. The transportation company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.03 by $0.25. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. Wabtec had a return on equity of 13.35% and a net margin of 10.53%. The business's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, research analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Wabtec's dividend payout ratio (DPR) is presently 15.67%.

Insider Activity at Wabtec

In other news, 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 transaction of $1,244,900.89. Following the completion of the transaction, the chief technology officer directly owned 18,697 shares in the company, valued at approximately $3,784,085.83. The trade was a 24.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gina Trombley sold 4,299 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $202.00, for a total value of $868,398.00. Following the transaction, the executive vice president owned 13,696 shares of the company's stock, valued at approximately $2,766,592. This represents a 23.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,588 shares of company stock valued at $19,832,997. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Wabtec

Several hedge funds and other institutional investors have recently made changes to their positions in WAB. Pacer Advisors Inc. lifted its position in Wabtec by 2,220.1% in the first quarter. Pacer Advisors Inc. now owns 738,038 shares of the transportation company's stock worth $133,843,000 after purchasing an additional 706,227 shares during the period. BNP Paribas Financial Markets lifted its position in Wabtec by 46.0% in the first quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company's stock worth $69,057,000 after purchasing an additional 120,057 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Wabtec in the fourth quarter worth approximately $22,509,000. AGF Management Ltd. acquired a new stake in Wabtec in the fourth quarter worth approximately $10,566,000. Finally, Twin Tree Management LP lifted its position in Wabtec by 108.8% in 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 during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Company Profile

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.