Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Increased to $162.00 by Analysts at Bank of America

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price lifted by Bank of America from $156.00 to $162.00 in a research note published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

A number of other research analysts have also weighed in on the stock. Redburn Atlantic lowered shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 target price for the company. in a research report on Thursday, February 15th. KeyCorp boosted their price objective on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Morgan Stanley began coverage on Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an overweight rating and a $137.00 price objective for the company. Finally, TD Cowen boosted their price objective on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the stock a market perform rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $146.40.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB opened at $145.24 on Monday. The firm has a market cap of $25.68 billion, a PE ratio of 32.13, a PEG ratio of 1.68 and a beta of 1.40. The firm’s 50 day moving average price is $141.54 and its 200 day moving average price is $125.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $151.00.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the business posted $1.30 EPS. Westinghouse Air Brake Technologies’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts expect that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is currently 17.70%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the sale, the director now directly owns 23,065 shares in the company, valued at approximately $3,132,227. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP David L. Deninno sold 6,607 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total transaction of $895,975.27. Following the sale, the vice president now directly owns 65,535 shares in the company, valued at approximately $8,887,201.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Hehir sold 5,470 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the sale, the director now owns 23,065 shares in the company, valued at $3,132,227. The disclosure for this sale can be found here. Insiders have sold 63,964 shares of company stock worth $8,924,584 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Large investors have recently bought and sold shares of the business. Coppell Advisory Solutions Corp. bought a new stake in Westinghouse Air Brake Technologies during the 4th quarter worth approximately $30,000. Coppell Advisory Solutions LLC acquired a new position in Westinghouse Air Brake Technologies during the 2nd quarter worth $33,000. Resources Management Corp CT ADV lifted its holdings in Westinghouse Air Brake Technologies by 1,292.4% during the 2nd quarter. Resources Management Corp CT ADV now owns 1,100 shares of the transportation company’s stock worth $121,000 after buying an additional 1,021 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth $204,000. Finally, Quantitative Investment Management LLC acquired a new position in Westinghouse Air Brake Technologies during the 2nd quarter worth $314,000. 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.