Citigroup Issues Positive Forecast for Wabtec (NYSE:WAB) Stock Price

Wabtec (NYSE:WAB) had its target price raised by equities research analysts at Citigroup from $225.00 to $245.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 20.73% from the company’s previous close.

Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Wells Fargo & Company began coverage on shares of Wabtec in a report on Thursday. They set an “equal weight” rating and a $221.00 price target for the company. Susquehanna upped their price objective on shares of Wabtec from $235.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Wabtec from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Bank of America lifted their price target on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.78.

Wabtec Trading Down 0.7%

Shares of WAB traded down $1.35 during mid-day trading on Friday, reaching $202.93. The company had a trading volume of 276,475 shares, compared to its average volume of 1,057,152. The firm has a fifty day simple moving average of $197.24 and a 200-day simple moving average of $198.90. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The company has a current ratio of 1.42, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. Wabtec has a fifty-two week low of $151.81 and a fifty-two week high of $216.10.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.04. The firm 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. On average, sell-side analysts anticipate that Wabtec will post 8.54 EPS for the current fiscal year.

Insider Transactions at Wabtec

In other Wabtec news, VP David L. Deninno sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $209.94, for a total value of $1,049,700.00. Following the completion of the transaction, the vice president owned 55,450 shares of the company’s stock, valued at $11,641,173. The trade was a 8.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory Sbrocco sold 2,424 shares of Wabtec stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $203.77, for a total value of $493,938.48. Following the completion of the transaction, the executive vice president directly owned 15,405 shares in the company, valued at $3,139,076.85. This trade represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,322 shares of company stock worth $5,315,871. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Wabtec

Institutional investors and hedge funds have recently made changes to their positions in the company. PFS Partners LLC lifted its position 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 in the last quarter. Colonial Trust Advisors lifted its position in Wabtec by 454.5% during the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Piscataqua Savings Bank lifted its position in Wabtec by 12,800.0% during the 3rd quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after acquiring an additional 128 shares during the period. Motco lifted its position in Wabtec by 6,600.0% during the third quarter. Motco now owns 134 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 132 shares during the period. Finally, Salomon & Ludwin LLC increased its holdings in Wabtec by 370.6% in the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock valued at $32,000 after buying an additional 126 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.