Wabtec (NYSE:WAB) Rating Lowered to Hold at Wall Street Zen

Wabtec (NYSE:WAB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities research analysts also recently issued research reports about the stock. Susquehanna decreased their price target on shares of Wabtec from $218.00 to $210.00 and set a “positive” rating on the stock in a research note on Thursday, April 24th. KeyCorp reiterated an “overweight” rating and set a $240.00 price target (up previously from $220.00) on shares of Wabtec in a research note on Tuesday, June 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $201.00 price target (up previously from $175.00) on shares of Wabtec in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Wabtec from $175.00 to $194.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, Bank of America lifted their price objective on Wabtec from $217.00 to $231.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Wabtec has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

Wabtec Stock Up 0.6%

WAB opened at $207.57 on Friday. Wabtec has a fifty-two week low of $147.66 and a fifty-two week high of $210.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.34 and a quick ratio of 0.73. The firm’s fifty day moving average price is $197.68 and its two-hundred day moving average price is $191.79. The company has a market capitalization of $35.52 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.54 and a beta of 1.12.

Wabtec (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.25. Wabtec had a net margin of 10.53% and a return on equity of 13.35%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Wabtec will post 8.54 EPS for the current year.

Insider Activity at Wabtec

In related news, insider Rogerio Mendonca sold 4,033 shares of Wabtec stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $200.04, for a total value of $806,761.32. Following the completion of the transaction, the insider now directly owns 11,535 shares of the company’s stock, valued at $2,307,461.40. The trade was a 25.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 886 shares of Wabtec stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.23, for a total value of $178,289.78. Following the completion of the transaction, the chief executive officer now directly owns 142,958 shares of the company’s stock, valued at $28,767,438.34. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,474 shares of company stock valued at $19,996,969 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WAB. Putney Financial Group LLC bought a new position in shares of Wabtec in the fourth quarter valued at about $52,000. MassMutual Private Wealth & Trust FSB raised its holdings in Wabtec by 9.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company’s stock worth $114,000 after purchasing an additional 56 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in Wabtec during the 4th quarter worth about $204,000. GF Fund Management CO. LTD. bought a new stake in Wabtec during the 4th quarter worth about $205,000. Finally, Catalyst Funds Management Pty Ltd raised its holdings in Wabtec by 200.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 1,800 shares of the transportation company’s stock worth $341,000 after purchasing an additional 1,200 shares during the last quarter. 91.69% of the stock is owned by 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.