Wabtec (NYSE:WAB) Price Target Raised to $292.00

Wabtec (NYSE:WAB) had its price objective increased by Citigroup from $283.00 to $292.00 in a research note released on Thursday, Marketbeat reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities analysts also recently issued reports on WAB. Morgan Stanley reaffirmed an “overweight” rating and set a $315.00 price objective on shares of Wabtec in a report on Tuesday, February 17th. JPMorgan Chase & Co. lifted their price objective on shares of Wabtec from $215.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Rothschild & Co Redburn raised shares of Wabtec from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $262.00 to $285.00 in a report on Thursday, March 26th. Wall Street Zen downgraded shares of Wabtec from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Susquehanna set a $300.00 price objective on shares of Wabtec in a report on Thursday, February 12th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.75.

Wabtec Stock Performance

Shares of WAB stock opened at $267.69 on Thursday. The firm has a market capitalization of $45.55 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99. The firm has a fifty day simple moving average of $251.02 and a two-hundred day simple moving average of $224.38. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. Wabtec has a 12 month low of $165.00 and a 12 month high of $275.84.

Wabtec (NYSE:WAB) last announced its quarterly earnings results on Wednesday, February 11th. The transportation company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.86 billion. Wabtec had a net margin of 10.48% and a return on equity of 14.12%. Wabtec’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 EPS. Wabtec has set its FY 2026 guidance at 10.050-10.450 EPS. Analysts forecast that Wabtec will post 8.54 EPS for the current fiscal year.

Wabtec Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 17th. This is an increase from Wabtec’s previous quarterly dividend of $0.25. This represents a $1.24 annualized dividend and a yield of 0.5%. Wabtec’s dividend payout ratio (DPR) is currently 18.16%.

Wabtec announced that its board has approved a stock buyback plan on Wednesday, February 11th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Wabtec

In other Wabtec news, insider Nalin Jain sold 7,936 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $264.09, for a total transaction of $2,095,818.24. Following the sale, the insider directly owned 6,364 shares of the company’s stock, valued at $1,680,668.76. This represents a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina Trombley sold 4,013 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $241.87, for a total transaction of $970,624.31. Following the completion of the sale, the executive vice president directly owned 13,841 shares in the company, valued at approximately $3,347,722.67. The trade was a 22.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 31,512 shares of company stock valued at $8,160,028. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Wabtec

A number of institutional investors and hedge funds have recently modified their holdings of WAB. Piscataqua Savings Bank increased its position in shares of Wabtec by 12,800.0% in the third quarter. Piscataqua Savings Bank now owns 129 shares of the transportation company’s stock worth $26,000 after purchasing an additional 128 shares during the last quarter. Motco increased its position in shares of Wabtec by 6,600.0% in the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after purchasing an additional 132 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Wabtec by 125.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 73 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Wabtec by 122.0% in the fourth quarter. Manchester Capital Management LLC now owns 131 shares of the transportation company’s stock worth $28,000 after purchasing an additional 72 shares during the last quarter. Finally, McMillan Office Inc. bought a new position in shares of Wabtec in the fourth quarter worth approximately $31,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

About Wabtec

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.