JPMorgan Chase & Co. Issues Positive Forecast for Wabtec (NYSE:WAB) Stock Price

Wabtec (NYSE:WAB) had its price objective raised by JPMorgan Chase & Co. from $215.00 to $245.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

WAB has been the subject of a number of other reports. Wolfe Research upgraded shares of Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target for the company in a report on Thursday, January 8th. Wells Fargo & Company boosted their price objective on Wabtec from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Susquehanna increased their target price on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Morgan Stanley lifted their price target on Wabtec from $257.00 to $264.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup upped their price target on Wabtec from $245.00 to $258.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Eight 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Wabtec Stock Down 0.3%

Shares of Wabtec stock opened at $226.77 on Wednesday. Wabtec has a 12-month low of $151.81 and a 12-month high of $228.69. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $212.52 and a two-hundred day moving average price of $203.03. The stock has a market capitalization of $38.77 billion, a P/E ratio of 32.96, a PEG ratio of 1.55 and a beta of 1.00.

Wabtec (NYSE:WAB) last issued its quarterly earnings data 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 business 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%. Wabtec’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Equities analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Insider Buying and Selling

In other Wabtec news, CAO John A. Mastalerz, Jr. sold 2,766 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total value of $580,860.00. Following the sale, the chief accounting officer owned 5,286 shares of the company’s stock, valued at $1,110,060. The trade was a 34.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rogerio Mendonca sold 2,019 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.51, for a total transaction of $433,095.69. Following the completion of the transaction, the insider owned 9,516 shares of the company’s stock, valued at approximately $2,041,277.16. This represents a 17.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,916 shares of company stock worth $7,090,420. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wabtec

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC raised its position in Wabtec by 20.8% in the fourth quarter. ORG Partners LLC now owns 931 shares of the transportation company’s stock worth $199,000 after purchasing an additional 160 shares in the last quarter. Spire Wealth Management grew its stake in shares of Wabtec by 292.0% in the 4th quarter. Spire Wealth Management now owns 1,619 shares of the transportation company’s stock valued at $346,000 after purchasing an additional 1,206 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Wabtec by 897.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 15,502 shares of the transportation company’s stock valued at $3,309,000 after purchasing an additional 13,948 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of Wabtec by 5.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 5,746 shares of the transportation company’s stock worth $1,226,000 after buying an additional 292 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Wabtec by 18.1% during the 4th quarter. Kathmere Capital Management LLC now owns 1,873 shares of the transportation company’s stock worth $400,000 after buying an additional 287 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wabtec Company Profile

Wabtec Corporation (Westinghouse Air Brake Technologies Corporation) is a global provider of equipment, systems and services for the rail industry. The company supplies products and solutions to freight railroads, transit agencies and other industrial operators, focusing on technologies that improve the performance, safety and efficiency of locomotives and rail networks. Wabtec’s business spans new equipment manufacturing, aftermarket parts and services, and digital and control systems for rail operations.

Product and service offerings include locomotive systems and components, braking and air systems, propulsion and traction equipment, signaling and control technologies, and a range of aftermarket services such as maintenance, remanufacturing, parts distribution and fleet modernization.