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

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $183.25.

WAB has been the topic of a number of recent research reports. KeyCorp raised their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a 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, Stephens raised 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 report on Thursday, October 24th.

Insider Activity

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the sale, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert J. Neupaver sold 35,722 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares in the company, valued at approximately $115,946,148.90. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,393 shares of company stock valued at $9,350,243. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Eastern Bank bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth approximately $33,000. Garde Capital Inc. bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth approximately $110,000. Camden National Bank bought a new stake in Westinghouse Air Brake Technologies during the third quarter worth approximately $222,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Westinghouse Air Brake Technologies by 10.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB stock opened at $198.19 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. Westinghouse Air Brake Technologies has a one year low of $125.56 and a one year high of $207.51. The company’s 50-day simple moving average is $196.48 and its 200-day simple moving average is $179.45. The stock has a market capitalization of $34.07 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 1.45 and a beta of 1.27.

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

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) 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.