Janney Montgomery Scott Increases Wabtec Price Target to $66.00 (WAB)
Investment analysts at Janney Montgomery Scott raised their price objective on shares of Wabtec (NYSE:WAB) from $54.00 to $66.00 in a note issued to investors on Friday, American Banking News reports. The firm currently has a “neutral” rating on the stock. Janney Montgomery Scott’s price target suggests a potential downside of 0.12% from the company’s current price.
Shares of Wabtec (NYSE:WAB) traded up 0.90% on Friday, hitting $66.08. 279,152 shares of the company’s stock traded hands. Wabtec has a one year low of $38.56 and a one year high of $63.25. The stock’s 50-day moving average is $59.15 and its 200-day moving average is $54.15. The company has a market cap of $6.362 billion and a price-to-earnings ratio of 23.35.
Wabtec (NYSE:WAB) last announced its earnings results on Thursday, October 24th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The company had revenue of $631.10 million for the quarter, compared to the consensus estimate of $653.52 million. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Wednesday, November 13th.
Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Wabtec from $65.00 to $69.00 in a research note to investors on Tuesday, October 8th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $74.25.
Westinghouse Air Brake Technologies Corporation (NYSE:WAB), doing business as Wabtec Corporation, is a providers of value-added, technology-based equipment and services for the global rail industry.
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