Wabtec (NYSE:WAB) Stock Passes Above 200 Day Moving Average - Here's Why

Wabtec (NYSE:WAB - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $191.91 and traded as high as $210.88. Wabtec shares last traded at $209.29, with a volume of 1,121,098 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WAB shares. Bank of America increased their target price on Wabtec from $217.00 to $231.00 and gave the stock a "buy" rating in a report on Friday, June 27th. The Goldman Sachs Group restated a "neutral" rating and set a $201.00 price target (up from $175.00) on shares of Wabtec in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on Wabtec from $175.00 to $194.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Susquehanna decreased their price target on Wabtec from $218.00 to $210.00 and set a "positive" rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp restated an "overweight" rating and set a $240.00 price target (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $216.00.

Wabtec Price Performance

The stock has a market capitalization of $36.53 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. 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 stock has a 50-day simple moving average of $201.05 and a 200 day simple moving average of $192.25.

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, beating analysts' consensus estimates of $2.03 by $0.25. The firm had revenue of $2.61 billion for 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 quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. On average, equities analysts forecast that Wabtec will post 8.54 earnings per share for the current fiscal year.

Wabtec Announces Dividend

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

Insider Transactions at Wabtec

In other news, EVP Lilian Leroux sold 7,500 shares of the firm's stock in a transaction on 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 in the company, valued at $2,643,573.45. This trade represents a 35.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Eric Gebhardt sold 6,151 shares of the firm's stock in a transaction 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 transaction, the chief technology officer owned 18,697 shares in the company, valued at $3,784,085.83. This represents a 24.75% 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 worth $19,832,997. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kera Capital Partners Inc. raised its stake in Wabtec by 35.5% during the 2nd quarter. Kera Capital Partners Inc. now owns 1,671 shares of the transportation company's stock worth $350,000 after buying an additional 438 shares during the period. Voya Investment Management LLC raised its stake in shares of Wabtec by 5.5% in the 1st quarter. Voya Investment Management LLC now owns 104,860 shares of the transportation company's stock valued at $19,016,000 after purchasing an additional 5,423 shares during the period. Plato Investment Management Ltd raised its stake in shares of Wabtec by 4.9% in the 1st quarter. Plato Investment Management Ltd now owns 12,082 shares of the transportation company's stock valued at $2,215,000 after purchasing an additional 560 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Wabtec by 46.0% in the 1st quarter. BNP Paribas Financial Markets now owns 380,793 shares of the transportation company's stock valued at $69,057,000 after acquiring an additional 120,057 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Wabtec by 30.3% in the 1st quarter. Jump Financial LLC now owns 33,100 shares of the transportation company's stock valued at $6,003,000 after acquiring an additional 7,703 shares in the last quarter. 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.