Wells Fargo & Company Forecasts Strong Price Appreciation for Wabtec (NYSE:WAB) Stock

Wabtec (NYSE:WAB) had its target price raised by analysts at Wells Fargo & Company from $221.00 to $224.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.89% from the stock’s previous close.

A number of other research firms have also recently issued reports on WAB. Citigroup increased their price objective on shares of Wabtec from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Bank of America increased their price objective on shares of Wabtec from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Susquehanna increased their price target on shares of Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wabtec in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted 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. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wabtec presently has a consensus rating of “Moderate Buy” and an average price target of $227.11.

Wabtec Trading Down 1.0%

WAB stock traded down $2.18 during trading on Wednesday, hitting $211.55. The company had a trading volume of 192,483 shares, compared to its average volume of 1,033,106. The business has a 50-day moving average of $203.83 and a 200-day moving average of $200.72. 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 one year low of $151.81 and a one year high of $220.89. The stock has a market cap of $36.17 billion, a PE ratio of 30.70, a PEG ratio of 1.66 and a beta of 0.99.

Wabtec (NYSE:WAB) last announced its 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. Wabtec had a net margin of 10.94% and a return on equity of 13.84%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $2.00 earnings per share. Wabtec’s quarterly revenue was up 8.4% on a year-over-year basis. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. Research analysts predict that Wabtec will post 8.54 earnings per share for the current fiscal year.

Insider Activity at Wabtec

In other Wabtec news, EVP Gregory Sbrocco sold 2,953 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $195.43, for a total value of $577,104.79. Following the completion of the sale, the executive vice president owned 17,829 shares in the company, valued at approximately $3,484,321.47. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Deninno sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $214.62, for a total transaction of $1,073,100.00. Following the sale, the vice president directly owned 50,450 shares of the company’s stock, valued at $10,827,579. The trade was a 9.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,916 shares of company stock worth $7,059,620 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Wabtec

Several hedge funds have recently made changes to their positions in WAB. Norges Bank purchased a new stake in shares of Wabtec in the 2nd quarter worth about $347,194,000. Farallon Capital Management LLC boosted its position in Wabtec by 68.6% during the 3rd quarter. Farallon Capital Management LLC now owns 2,205,098 shares of the transportation company’s stock valued at $442,056,000 after acquiring an additional 896,900 shares in the last quarter. UBS Group AG grew its holdings in shares of Wabtec by 194.2% during the 3rd quarter. UBS Group AG now owns 1,033,304 shares of the transportation company’s stock worth $207,146,000 after acquiring an additional 682,048 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Wabtec in the 2nd quarter worth approximately $121,612,000. Finally, AQR Capital Management LLC lifted its stake in shares of Wabtec by 76.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,229,270 shares of the transportation company’s stock valued at $245,534,000 after purchasing an additional 532,121 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.