Wabtec (NYSE:WAB) Given New $200.00 Price Target at JPMorgan Chase & Co.

Wabtec (NYSE:WAB) had its price objective lowered by JPMorgan Chase & Co. from $216.00 to $200.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other research firms also recently commented on WAB. Susquehanna upped their price objective on Wabtec from $210.00 to $235.00 and gave the company a “positive” rating in a report on Friday, July 25th. Bank of America increased their price target on Wabtec from $231.00 to $236.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price objective on Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $201.00 target price (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. Finally, 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. Three equities research 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.com, Wabtec presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.57.

Wabtec Stock Performance

Shares of NYSE WAB opened at $191.29 on Thursday. The company has a market cap of $32.70 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.55 and a beta of 1.11. The company has a quick ratio of 1.05, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Wabtec has a 12 month low of $151.81 and a 12 month high of $216.10. The business’s 50 day moving average is $202.98 and its two-hundred day moving average is $193.37.

Wabtec (NYSE:WAB) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Wabtec had a return on equity of 13.65% and a net margin of 10.92%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. On average, equities analysts expect that Wabtec will post 8.54 EPS for the current year.

Wabtec Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 0.5%. Wabtec’s payout ratio is presently 14.93%.

Insider Buying and Selling

In other news, VP David L. Deninno sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $201.05, for a total value of $603,150.00. Following the transaction, the vice president directly owned 60,450 shares of the company’s stock, valued at $12,153,472.50. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Eric Gebhardt sold 6,151 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $202.39, for a total value of $1,244,900.89. Following the sale, the chief technology officer owned 18,697 shares of the company’s stock, valued at approximately $3,784,085.83. This represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,222 shares of company stock valued at $3,083,767 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wabtec

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ST Germain D J Co. Inc. lifted its position in shares of Wabtec by 30.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 207 shares of the transportation company’s stock worth $43,000 after buying an additional 48 shares in the last quarter. PFS Partners LLC raised its holdings in Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Trust Co. of Vermont grew its position in shares of Wabtec by 44.2% during the 2nd quarter. Trust Co. of Vermont now owns 163 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 50 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Wabtec by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 797 shares of the transportation company’s stock valued at $167,000 after purchasing an additional 54 shares in the last quarter. Finally, CVA Family Office LLC grew its position in Wabtec by 7.9% in the second quarter. CVA Family Office LLC now owns 748 shares of the transportation company’s stock worth $157,000 after acquiring an additional 55 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

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.