Wabtec (NYSE:WAB) Price Target Raised to $245.00 at JPMorgan Chase & Co.

Wabtec (NYSE:WAB) had its target price lifted by JPMorgan Chase & Co. from $215.00 to $245.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 8.44% from the company’s current price.

WAB has been the topic of several other reports. Susquehanna increased their price objective on Wabtec from $235.00 to $240.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Wolfe Research upgraded Wabtec from a “peer perform” rating to an “outperform” rating and set a $245.00 price target on the stock in a report on Thursday, January 8th. Citigroup lifted their price objective on Wabtec from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Bank of America upped their target price on shares of Wabtec from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wabtec in a research note on Wednesday, October 8th. Eight investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.00.

Wabtec Trading Down 0.7%

NYSE:WAB traded down $1.55 on Wednesday, reaching $225.93. 234,776 shares of the company’s stock were exchanged, compared to its average volume of 623,480. The firm has a market capitalization of $38.62 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.00. Wabtec has a 52-week low of $151.81 and a 52-week 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 business has a fifty day moving average of $212.10 and a 200-day moving average of $202.86.

Wabtec (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 22nd. The transportation company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.04. The firm 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%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 earnings per share. Wabtec has set its FY 2025 guidance at 8.850-9.050 EPS. As a group, analysts expect that Wabtec will post 8.54 earnings per share for the current year.

Insider Buying and Selling at Wabtec

In related news, CAO John A. Mastalerz, Jr. sold 2,766 shares of Wabtec stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $210.00, for a total transaction of $580,860.00. Following the sale, the chief accounting officer directly owned 5,286 shares in the company, valued at $1,110,060. This trade represents a 34.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Deninno sold 5,000 shares of the company’s 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 completion of the transaction, the vice president owned 50,450 shares of the company’s stock, valued at $10,827,579. This represents a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 33,916 shares of company stock worth $7,090,420. 1.10% of the stock is owned by insiders.

Institutional Trading of Wabtec

A number of hedge funds and other institutional investors have recently made changes to their positions in WAB. PFS Partners LLC grew its stake in Wabtec by 70.4% during the 2nd quarter. PFS Partners LLC now owns 121 shares of the transportation company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Colonial Trust Advisors lifted its stake in Wabtec by 454.5% in the second quarter. Colonial Trust Advisors now owns 122 shares of the transportation company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Piscataqua Savings Bank boosted its holdings 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 valued at $26,000 after acquiring an additional 128 shares during the period. Motco grew its position in shares of Wabtec by 6,600.0% during the third quarter. Motco now owns 134 shares of the transportation company’s stock worth $27,000 after acquiring an additional 132 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its position in shares of Wabtec by 370.6% during the third quarter. Salomon & Ludwin LLC now owns 160 shares of the transportation company’s stock worth $32,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.