Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $163.90 Consensus Price Target from Brokerages

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $163.90.

A number of research firms have recently weighed in on WAB. Stephens boosted their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Bank of America upped their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. KeyCorp upped their target price on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their target price on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Finally, TD Cowen upped their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, April 25th.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 4,801 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total transaction of $742,426.64. Following the completion of the sale, the executive vice president now owns 15,608 shares of the company’s stock, valued at $2,413,621.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Eric Gebhardt sold 7,422 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the sale, the chief technology officer now owns 22,411 shares of the company’s stock, valued at $3,503,287.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicole B. Theophilus sold 4,801 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total value of $742,426.64. Following the completion of the sale, the executive vice president now directly owns 15,608 shares of the company’s stock, valued at approximately $2,413,621.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,223 shares of company stock valued at $2,064,254. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its position in shares of Westinghouse Air Brake Technologies by 26.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after buying an additional 118 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the first quarter worth about $204,000. Bridges Investment Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the second quarter worth about $360,000. V Square Quantitative Management LLC lifted its stake in shares of Westinghouse Air Brake Technologies by 36.8% in the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock worth $382,000 after acquiring an additional 706 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Westinghouse Air Brake Technologies by 4.3% in the first quarter. Greenleaf Trust now owns 3,201 shares of the transportation company’s stock worth $466,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

NYSE WAB opened at $159.31 on Friday. Westinghouse Air Brake Technologies has a fifty-two week low of $98.70 and a fifty-two week high of $170.83. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The business has a fifty day moving average of $159.86 and a 200-day moving average of $153.39. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts predict that Westinghouse Air Brake Technologies will post 7.42 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

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.