Westinghouse Air Brake Technologies Corporation (NYSE: ), known as WAB, hit an all-time high, with its stock price jumping to $207.62. The $35.6 billion market cap company boasts a perfect Piotroski score of 9, according to InvestingPro data, which indicates exceptional financial strength. This milestone reflects a significant jump in the company’s market performance, marking a remarkable one-year change with an increase of 60.64%. WAB’s progress is being closely watched by investors and market analysts, with analyst targets as high as $240. The company continues to exceed expectations and solidify its position in the industry. The impressive all-time record serves as a testament to WAB’s strong growth strategy and operational excellence over the past year. InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report for in-depth analysis.
In other recent news, Wabtec Corporation reported a significant increase in earnings and revenue. The company’s third quarter sales increased 4.5% to $2.7 billion compared to the prior year, with adjusted earnings per share (EPS) increasing approximately 18% year-over-year to $2.00. Stephens and BofA Securities recognized this strong performance by raising their price targets on Wabtec to $205 and $226, respectively.
Along with these financial achievements, Wabtec made strategic moves to strengthen its position in the market. The company announced the acquisition of the Inspection Technologies division Olympus Corp. (TYO: ), a move valued at roughly $1.78 billion. The acquisition is expected to be significantly accretive to revenue and EBITDA margins, with projections of $433 million in revenue by 2024.
Furthermore, the company expanded its share repurchase program by an additional $1 billion, demonstrating its commitment to managing capital allocation and shareholder value. In the area of corporate governance, Wabtec appointed Juan Perez to its Board of Directors, signaling continuous improvements in governance and oversight. These are among recent developments that continue to shape Wabtec’s business trajectory.
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