Citigroup Begins Coverage on Wabtec (NYSE:WAB)

Equities researchers at Citigroup assumed coverage on shares of Wabtec (NYSE:WAB) in a research note issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $225.00 price target on the transportation company’s stock. Citigroup’s price objective indicates a potential upside of 15.78% from the company’s current price.

WAB has been the subject of several other research reports. Wall Street Zen cut shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KeyCorp reiterated an “overweight” rating and issued a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. Morgan Stanley upped their price target on shares of Wabtec from $220.00 to $226.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Susquehanna upped their price objective on shares of Wabtec from $210.00 to $235.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wabtec from $216.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $222.88.

Wabtec Trading Down 1.8%

Shares of WAB stock opened at $194.33 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.76. The stock has a market capitalization of $33.22 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. The company has a 50 day moving average price of $194.30 and a 200 day moving average price of $193.06. 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 data on Thursday, July 24th. The transportation company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Wabtec had a net margin of 10.92% and a return on equity of 13.65%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. Wabtec has set its FY 2025 guidance at 8.550-9.150 EPS. Equities research analysts predict that Wabtec will post 8.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wabtec news, CEO Rafael Santana sold 1,799 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $189.97, for a total transaction of $341,756.03. Following the completion of the transaction, the chief executive officer directly owned 136,729 shares in the company, valued at approximately $25,974,408.13. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 5,369 shares of company stock worth $1,042,586. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Wabtec

Several hedge funds have recently modified their holdings of WAB. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company’s stock worth $114,000 after purchasing an additional 56 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Wabtec by 3.0% in the first quarter. Rhumbline Advisers now owns 313,459 shares of the transportation company’s stock worth $56,846,000 after acquiring an additional 9,041 shares during the last quarter. Greenleaf Trust boosted its position in shares of Wabtec by 2.8% in the first quarter. Greenleaf Trust now owns 3,437 shares of the transportation company’s stock worth $623,000 after acquiring an additional 93 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Wabtec by 16.0% in the first quarter. New York State Common Retirement Fund now owns 142,163 shares of the transportation company’s stock worth $25,781,000 after acquiring an additional 19,600 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of 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 acquiring an additional 706,227 shares during the last quarter. 91.69% of the stock is 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.