Wabtec (NYSE:WAB) Sets New 12-Month High – Time to Buy?

Wabtec (NYSE:WAB) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $307.96 and last traded at $305.1350, with a volume of 64,703 shares traded. The stock had previously closed at $303.49.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Rothschild & Co Redburn cut their target price on shares of Wabtec from $293.00 to $292.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Stephens upped their price target on shares of Wabtec from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Susquehanna upped their price target on shares of Wabtec from $305.00 to $340.00 and gave the stock a “positive” rating in a research note on Thursday, July 23rd. Jefferies Financial Group increased their price objective on Wabtec from $315.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut Wabtec from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

Wabtec Price Performance

The stock’s 50-day moving average is $284.95 and its 200-day moving average is $269.82. The firm has a market cap of $51.10 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 0.41.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.10. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.20 billion. Wabtec had a net margin of 11.20% and a return on equity of 15.72%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.32 EPS. As a group, equities analysts anticipate that Wabtec will post 10.97 EPS for the current fiscal year.

Wabtec Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.4%. Wabtec’s dividend payout ratio is currently 15.40%.

Insider Activity

In related news, EVP Gregory Sbrocco sold 952 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $300.00, for a total value of $285,600.00. Following the completion of the sale, the executive vice president owned 21,043 shares in the company, valued at approximately $6,312,900. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rafael Santana sold 1,087 shares of Wabtec stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $291.79, for a total value of $317,175.73. Following the sale, the chief executive officer directly owned 116,155 shares in the company, valued at $33,892,867.45. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,289 shares of company stock valued at $1,555,741. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Wabtec

Several institutional investors have recently bought and sold shares of WAB. SBI Okasan Asset Management Co.Ltd. increased its stake in shares of Wabtec by 0.6% in the third quarter. SBI Okasan Asset Management Co.Ltd. now owns 5,672 shares of the transportation company’s stock valued at $1,652,000 after buying an additional 35 shares in the last quarter. Welch & Forbes LLC increased its position in shares of Wabtec by 1.8% in the 2nd quarter. Welch & Forbes LLC now owns 2,050 shares of the transportation company’s stock valued at $553,000 after buying an additional 36 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Wabtec by 0.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,317 shares of the transportation company’s stock worth $1,237,000 after buying an additional 36 shares during the period. Parkside Financial Bank & Trust raised its stake in Wabtec by 4.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 851 shares of the transportation company’s stock worth $229,000 after buying an additional 37 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in Wabtec by 1.6% during the first quarter. Meeder Advisory Services Inc. now owns 2,471 shares of the transportation company’s stock worth $618,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wabtec Company Profile

Wabtec Corporation (NYSE: WAB), also known as Westinghouse Air Brake Technologies, supplies equipment, systems and services for the freight rail and passenger transit industries. Its products include locomotives, braking and train control systems, propulsion equipment, and components designed to support rail safety and performance. The company also provides aftermarket services, including maintenance, modernization, parts and digital solutions for rail operators. Its offerings serve freight railroads, transit agencies and other customers in the global rail industry.