Yahoo Finance Why Wabtec (WAB) Stock Is Falling Today
What Happened:
Shares of rail equipment company Westinghouse Air Brake Technologies (NYSE:WAB) fell 6.4% in the afternoon session after the company reported second quarter earnings results. Overall, it was a good quarter, but the market was expecting more. Some minor negatives include the fact that backlog missed. Also full-year revenue guidance wasn't raised despite a revenue beat in the quarter. However, full year EPS guidance was raised but the midpoint came in below Consensus.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Wabtec? Access our full analysis report here, it's free.
What is the market telling us:
Wabtec's shares are not very volatile than the market average and over the last year have had only a move greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Wabtec is up 25.5% since the beginning of the year, and at $157.62 per share it is trading close to its 52-week high of $170.65 from May 2024. Investors who bought $1,000 worth of Wabtec's shares 5 years ago would now be looking at an investment worth $2,165.
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