Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $156.18 Average Target Price from Brokerages

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $156.18.

Several brokerages recently issued reports on WAB. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $150.00 in a report on Thursday, January 11th. TD Cowen lifted their price target on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Stephens boosted their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price target on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an “overweight” rating and a $137.00 price objective for the company.

Insider Activity

In other news, VP David L. Deninno sold 6,607 shares of Westinghouse Air Brake Technologies stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the sale, the vice president now owns 65,535 shares in the company, valued at $8,887,201.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Rogerio Mendonca sold 3,965 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $160.75, for a total transaction of $637,373.75. Following the transaction, the insider now directly owns 12,464 shares in the company, valued at $2,003,588. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total transaction of $895,975.27. Following the transaction, the vice president now owns 65,535 shares in the company, valued at $8,887,201.35. The disclosure for this sale can be found here. Insiders have sold 109,794 shares of company stock worth $16,338,817 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth about $204,000. Greenleaf Trust boosted its position in Westinghouse Air Brake Technologies by 4.3% during 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 during the last quarter. First Hawaiian Bank boosted its position in Westinghouse Air Brake Technologies by 49.1% during the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock worth $449,000 after acquiring an additional 1,167 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the third quarter worth about $498,000. Finally, Handelsinvest Investeringsforvaltning purchased a new position in Westinghouse Air Brake Technologies during the fourth quarter worth about $1,030,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Stock Performance

Westinghouse Air Brake Technologies stock opened at $162.21 on Friday. The company has a 50 day moving average price of $146.94 and a 200-day moving average price of $130.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.52. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $167.49. The company has a market capitalization of $28.61 billion, a PE ratio of 31.68, a P/E/G ratio of 1.43 and a beta of 1.36.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, equities analysts forecast that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s dividend payout ratio 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.