Westinghouse Air Brake Technologies (NYSE:WAB) Stock Price Expected to Rise, Bank of America Analyst Says

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective hoisted by research analysts at Bank of America from $225.00 to $226.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 13.52% from the company’s current price.

A number of other research firms also recently commented on WAB. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group raised their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, KeyCorp upped their target price on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Westinghouse Air Brake Technologies Trading Down 0.6 %

NYSE WAB opened at $199.09 on Wednesday. The company has a market capitalization of $34.22 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. Westinghouse Air Brake Technologies has a 12 month low of $125.56 and a 12 month high of $207.51. The company’s fifty day moving average price is $196.60 and its two-hundred day moving average price is $179.88.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.13. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, research analysts predict that Westinghouse Air Brake Technologies will post 7.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP David L. Deninno sold 10,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $188.60, for a total transaction of $1,886,000.00. Following the sale, the vice president now directly owns 55,352 shares in the company, valued at $10,439,387.20. The trade was a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the sale, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at $1,134,951.93. The trade was a 32.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,393 shares of company stock worth $9,350,243. Insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in WAB. Lord Abbett & CO. LLC bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $24,630,000. Garde Capital Inc. bought a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at $110,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $386,000. iA Global Asset Management Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 21.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock worth $3,383,000 after buying an additional 3,288 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at $61,474,000. 91.69% of the stock is currently owned by institutional investors.

About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.