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WAB $193.03

WAB target price
193.03
0
110
Wabtec Corporation
Type
Public
Traded as NYSE: WAB
S&P 400 Component
Industry Rail industry
Founded 1999 (1999) via merger
Headquarters Wilmerding, Pennsylvania, USA
Number of locations
Various : USA, Europe, Canada, Mexico, Australia, South America. ~50 plants
Key people
Albert J. Neupaver (Chairman)
Raymond T. Betler (President and CEO)
Patrick D. Dugan (Senior Vice President and CFO)
Products Rail braking systems, locomotives, air condition and heat exchanging systems, other rolling stock components
Services Locomotive servicing, overhaul and repair
Revenue Increase US$ 3,307.998 million (2015)
Operating income
Increase US$ 607.567 million (2015)
Net income
Increase US$ 398.628 million (2015)
Total assets Increase US$ 3,300.335 million (2015)
Total equity Increase US$ 1,701.339 million (2015)
Number of employees
13,000+
Divisions Motive Power Inc.
Website www.wabtec.com

Wabtec Corporation (derived from Westinghouse Air Brake Technologies Corporation) is an American company formed by the merger of the Westinghouse Air Brake Company (WABCO) and MotivePower Industries Corporation in 1999. It is headquartered in the Pittsburgh suburb of Wilmerding, Pennsylvania.

Wabtec manufactures products for locomotives, freight cars and passenger transit vehicles, and builds new locomotives up to 4,000 horsepower (3 MW).

The company's origins go back as far as 1869 with the foundation of the Westinghouse Brake Company. That company (also known as WA&B later as WABCO) became independent in 1990 via a management buy-out, and went public in 1995. Another company, WABCO Vehicle Control Systems, also created from the Westinghouse Brake Company, is independent of Wabtec and was spun off by American Standard Companies (the ultimate owner) in 2007.

The other company forming Wabtec, MotivePower Industries, can be traced back to 1972, with the formation of the MK Rail division by the Morrison Knudsen group and the purchase of a manufacturing facility in Boise. In 1994 Morrison Knudsen created a subsidiary MK Rail Corporation; during the first half of the same decade the MK Rail group expanded with the acquisition of various other locomotive component companies. In 1996, MK Rail group separated from the parent Morrison Knudsen and adopted the name MotivePower Industries Corporation. In the later half of the 1990s further companies were acquired – again all in the locomotive components business. MotivePower, a wholly owned subsidiary of Wabtec, continues to manufacture locomotives.

In March 2010, Wabtec announced that it had purchased Xorail, a railway signaling design and construction company.

In July 2010, Wabtec announced that it had purchased two manufacturers of rail equipment, Bach-Simpson Corp. and G&B Specialties. The companies produce locomotive components and track products respectively. The purchase price was reportedly US$48 million.

In November 2010, Wabtec acquired all of the assets of Cleveland, Ohio-based manufacturer of traction motors and electric coils for rail and power generation markets Swiger Coil Systems.

In 2015, Wabtec acquired all three units of Metalocaucho(Spain,China,India) who are the leaders in the field of Suspension&Anti-Vibration systems.

On July 27, 2015, Wabtec announced that it plans to purchase Faiveley Transport S.A. in a cash-and-stock deal valued at $1.8 billion, including debt.

On February 28, 2011, Wabtec announced that it had acquired Brush Traction, an English locomotive builder and maintainer, for US$31 million.

In November 2011, Wabtec acquired Bearward Engineering Ltd [1], an industrial radiator manufacturer employing some 300 people based in Northampton, England. Bearward Engineering primarily supplies the power generation market with uniquely designed cooling systems. At the time of purchase Bearward had an annual turnover of US$70 million.

Wabtec Rail Limited is a railway engineering company based in at the Doncaster Works in Doncaster, South Yorkshire, England. Services include the overhaul and repair of railway rolling stock and components. Wabtec Rail occupies part of the former British Rail Engineering site known locally as the Plant Works. The two main unions on site (Unite and RMT) gave notice on November 3, 2014, of their intention to ballot their members for industrial action over a pay dispute, for the first time in Wabtec Rail Limited's history.

Wabtec Rail Scotland occupies the Kilmarnock works of the former locomotive builder Andrew Barclay Sons & Co..

Wabtec announced the US$48m acquisition of diesel engine, transmission and bogie overhaul and industrial locomotive supplier LH Group on October 2, 2012. The LH Group companies are now part of the Wabtec Rail Group, which includes Wabtec Rail Ltd, Wabtec Rail Scotland and Brush Traction.

Based at Barton under Needwood in Staffordshire, UK. LH has around 400 employees and annual sales of US$65m, about 10% of which are in non-rail markets.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-10-25 Future report Set alerts
Q2 2022 2022-08-05 1.23 1.23
Q1 2022 2022-04-27 1.13 1.13
Q4 2021 2022-02-16 1.18 1.18
Q3 2021 2021-10-27 1.14 1.14
Q2 2021 2021-07-29 1.06 1.06
Q1 2021 2021-04-29 0.89 0.89
Q4 2020 2021-02-18 0.98 0.98
Q3 2020 2020-10-29 0.95 0.95
Q2 2020 2020-07-28 0.87 0.87

Ratings

2016-02-19 Boost Price Target Goldman Sachs Neutral $71.00 to $73.00
2016-02-19 Boost Price Target Goldman Sachs Group Inc. Neutral $71.00 to $73.00
2016-02-16 Reiterated Rating Stifel Nicolaus Buy
2016-02-04 Downgrade Goldman Sachs Buy to Neutral $87.00 to $68.00
2016-01-04 Reiterated Rating KeyBanc Hold
2016-01-04 Reiterated Rating KeyCorp Hold
2015-12-29 Reiterated Rating KeyBanc Hold
2015-12-21 Upgrade Stifel Nicolaus Hold to Buy $88.00
2015-11-16 Upgrade Raymond James Market Perform to Outperform $82.00
2015-11-16 Upgrade Raymond James Financial Inc. Market Perform to Outperform $82.00
2015-09-22 Reiterated Rating Wells Fargo Buy
2015-09-22 Reiterated Rating Wells Fargo & Co. Buy
2015-04-22 Boost Price Target Wunderlich Buy $100.00 to $115.00
2014-12-19 Initiated Coverage Macquarie Neutral $94.00
2014-10-09 Initiated Coverage Wunderlich Buy $100.00
2014-01-17 Initiated Coverage Stephens Overweight
2013-10-25 Boost Price Target Janney Montgomery Scott Neutral $54.00 to $66.00
2013-10-08 Boost Price Target Goldman Sachs Buy $65.00 to $69.00
2012-03-16 Upgrade BB&T Capital Mkts Hold to Buy $90
2010-04-28 Downgrade BB&T Capital Mkts Buy to Hold
2010-04-07 Downgrade Longbow Buy to Neutral
2010-03-18 Downgrade Soleil Buy to Hold
2009-08-26 Upgrade Longbow Neutral to Buy $45
2009-07-27 Downgrade Morgan Keegan Outperform to Mkt Perform
2009-02-23 Upgrade Kevin Dann Sell to Neutral
2009-01-23 Reiterated Kevin Dann Sell $32 to $27
2008-12-09 Reiterated Janney Mntgmy Scott Buy $40 to $43
2008-08-21 Initiated Soleil Hold $60
2008-07-23 Downgrade Longbow Buy to Neutral
2008-06-30 Reiterated Longbow Buy $48 to $57
2008-05-14 Downgrade KeyBanc Capital Mkts Buy to Hold
2016-02-19 Boost Price Target Goldman Sachs Neutral $71.00 to $73.00
2016-02-19 Boost Price Target Goldman Sachs Group Inc. Neutral $71.00 to $73.00
2016-02-16 Reiterated Rating Stifel Nicolaus Buy
2016-02-04 Downgrade Goldman Sachs Buy to Neutral $87.00 to $68.00
2016-01-04 Reiterated Rating KeyBanc Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
FERNANDEZ EMILIO 0.91%  (872400) WAB /
NEUPAVER ALBERT J President & CEO 0.67%  (643475) GWR / KOP / WAB /
Betler Raymond T Chief Operating Officer 0.14%  (138599) CNNX / WAB /
WAHLSTROM SCOTT Senior VP, Human Resources 0.13%  (125725) WAB /
Kovac Charles F Senior Vice President, Freight 0.12%  (119459) WAB /
Bourg Robert C Vice President 0.10%  (91553) WAB /
BROOKS ROBERT J 0.08%  (81252) WAB /
DUGAN PATRICK D Sr. VP & Corporate Controller 0.08%  (75295) WAB /
KASSLING WILLIAM E 0.07%  (71824) PH / WAB /
DeNinno David L Sr. VP, General Counsel, Sec. 0.07%  (65888) WAB /
Cox R Mark Sr. VP - Corporate Development 0.06%  (55585) WAB /
FOSTER LEE B II 0.05%  (49026) FSTR / WAB /
Valade Gary 0.04%  (41702) WAB /
GARCIA TUNON ALVARO Exec. VP, CFO & Secretary 0.04%  (41270) ALSN / MATW / MSA / WAB /
Seitz David M. VP,Sr. Counsel/Asst. Secretary 0.03%  (28394) WAB /
Hehir Brian 0.03%  (24904) WAB /
Meyer David J Vice President 0.03%  (24838) WAB /
Colmer Karl-Heinz Vice President 0.02%  (19403) WAB /
VANDE STEEG NICKOLAS 0.02%  (19220) TRMB / WAB /
Fetsko Michael VP - Group Executive 0.02%  (15090) WAB /
WESLEY TIMOTHY R VP - Investor Relations 0.01%  (13853) WAB /
WHITEFORD JOHN D Vice President/Group Executive 0.01%  (12961) WAB /
Mastalerz John A Jr VP & Corporate Controller 0.01%  (12690) WAB /
Hildum Keith Vice President & Treasurer 0.01%  (10522) WAB /
HOWELL MICHAEL W D 0.01%  (5106) WAB /