Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $179.56 Average PT from Analysts

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) have been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $179.56.

Several equities analysts have recently commented on WAB shares. The Goldman Sachs Group upped their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. KeyCorp boosted their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna increased their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in WAB. Pinnacle Bancorp Inc. boosted its holdings in Westinghouse Air Brake Technologies by 55.0% in the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Eastern Bank acquired a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at $33,000. Garde Capital Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at $110,000. Camden National Bank acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Westinghouse Air Brake Technologies by 10.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Trading Down 1.2 %

Shares of WAB stock opened at $189.05 on Wednesday. Westinghouse Air Brake Technologies has a twelve month low of $125.56 and a twelve month high of $207.51. The stock has a market cap of $32.50 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.45 and a beta of 1.27. The company’s 50-day moving average price is $196.38 and its 200-day moving average price is $178.76. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34.

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

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 13.33%.

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.