Cowen Reaffirms “Buy” Rating for Wabtec (WAB)

Cowen reaffirmed their buy rating on shares of Wabtec (NYSE:WAB) in a research note issued to investors on Monday morning. They currently have a $90.00 target price on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on WAB. Zacks Investment Research raised Wabtec from a sell rating to a hold rating in a report on Friday, December 29th. Seaport Global Securities started coverage on Wabtec in a report on Thursday, January 4th. They issued a buy rating and a $90.00 target price on the stock. Stifel Nicolaus set a $68.00 target price on Wabtec and gave the stock a hold rating in a report on Friday, February 9th. Wolfe Research raised Wabtec from a market perform rating to an outperform rating and set a $88.00 target price on the stock in a report on Friday, February 16th. Finally, B. Riley set a $85.00 target price on Wabtec and gave the stock a hold rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $91.17.

Shares of WAB stock opened at $88.94 on Monday. Wabtec has a 12-month low of $69.20 and a 12-month high of $93.81. The company has a current ratio of 1.50, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $8,680.82, a PE ratio of 25.93, a PEG ratio of 2.06 and a beta of 0.93.

Wabtec (NYSE:WAB) last issued its earnings results on Tuesday, April 24th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Wabtec had a return on equity of 12.13% and a net margin of 6.88%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. analysts predict that Wabtec will post 3.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 10th. This represents a $0.48 annualized dividend and a yield of 0.54%. Wabtec’s payout ratio is currently 13.99%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Boston Common Asset Management LLC increased its stake in Wabtec by 14.7% during the fourth quarter. Boston Common Asset Management LLC now owns 9,855 shares of the transportation company’s stock worth $802,000 after acquiring an additional 1,260 shares during the last quarter. Patten Group Inc. increased its stake in Wabtec by 55.5% during the fourth quarter. Patten Group Inc. now owns 5,195 shares of the transportation company’s stock worth $423,000 after acquiring an additional 1,855 shares during the last quarter. Windward Capital Management Co. CA bought a new stake in Wabtec during the fourth quarter worth approximately $219,000. FDx Advisors Inc. increased its stake in Wabtec by 15.2% during the fourth quarter. FDx Advisors Inc. now owns 25,701 shares of the transportation company’s stock worth $2,093,000 after acquiring an additional 3,399 shares during the last quarter. Finally, Emerald Advisers Inc. PA bought a new stake in Wabtec during the fourth quarter worth approximately $327,000.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

Analyst Recommendations for Wabtec (NYSE:WAB)

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