Wabtec (NYSE:WAB) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company assumed coverage on shares of Wabtec (NYSE:WAB) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “hold” rating on the transportation company’s stock.

A number of other research firms have also issued reports on WAB. Wall Street Zen lowered Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna increased their price objective on Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Bank of America lifted their target price on Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Wabtec from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Citigroup raised their price target on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.78.

Wabtec Trading Down 0.3%

Shares of NYSE:WAB traded down $0.67 during midday trading on Thursday, reaching $203.60. The company had a trading volume of 646,609 shares, compared to its average volume of 1,058,876. The company has a fifty day simple moving average of $197.45 and a two-hundred day simple moving average of $199.04. The firm has a market cap of $34.81 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. Wabtec has a 1-year low of $151.81 and a 1-year high of $216.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.42.

Wabtec (NYSE:WAB) last announced its earnings results on Wednesday, October 22nd. The transportation company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.28 by $0.04. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Research analysts predict that Wabtec will post 8.54 earnings per share for the current year.

Insider Buying and Selling at Wabtec

In related news, EVP Gregory Sbrocco sold 2,953 shares of Wabtec stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the sale, the executive vice president owned 17,829 shares of the company’s stock, valued at approximately $3,484,321.47. The trade was a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rafael Santana sold 1,799 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $189.97, for a total transaction of $341,756.03. Following the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at $25,974,408.13. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,322 shares of company stock worth $5,315,871 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Wabtec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFS Partners LLC grew its holdings in Wabtec by 70.4% during the second quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Colonial Trust Advisors boosted its holdings in shares of Wabtec by 454.5% during the 2nd quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock worth $26,000 after buying an additional 100 shares during the period. Piscataqua Savings Bank grew its stake in Wabtec by 12,800.0% in the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock valued at $26,000 after buying an additional 128 shares during the last quarter. Motco raised its holdings in Wabtec by 6,600.0% in the 3rd quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after acquiring an additional 132 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in Wabtec by 370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after acquiring an additional 126 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.