Bank of America Raises Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $184.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective raised by Bank of America from $183.00 to $184.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other research firms also recently issued reports on WAB. KeyCorp boosted their target price on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a report on Thursday, April 25th. TD Cowen boosted their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company 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 report on Thursday, April 25th. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the stock a neutral rating in a research note on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of Moderate Buy and an average target price of $160.82.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB opened at $157.30 on Monday. The company has a market cap of $27.74 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29. Westinghouse Air Brake Technologies has a 12 month low of $98.70 and a 12 month high of $170.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.77. The company has a 50-day simple moving average of $163.71 and a 200-day simple moving average of $150.19.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. On average, equities analysts anticipate that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, EVP Gregory Sbrocco sold 1,646 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.30, for a total transaction of $275,375.80. Following the transaction, the executive vice president now directly owns 16,666 shares of the company’s stock, valued at $2,788,221.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Gregory Sbrocco sold 1,646 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.30, for a total transaction of $275,375.80. Following the transaction, the executive vice president now directly owns 16,666 shares of the company’s stock, valued at $2,788,221.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Albert J. Neupaver sold 29,100 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the completion of the sale, the director now directly owns 595,412 shares in the company, valued at $96,236,441.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,746 shares of company stock valued at $5,955,249. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

Several institutional investors have recently added to or reduced their stakes in WAB. BNP Paribas Financial Markets raised its holdings in Westinghouse Air Brake Technologies by 107.8% in the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after acquiring an additional 88,325 shares in the last quarter. Forsta AP Fonden raised its holdings in Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after acquiring an additional 20,900 shares in the last quarter. Applied Finance Capital Management LLC raised its holdings in Westinghouse Air Brake Technologies by 9.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after acquiring an additional 14,285 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Westinghouse Air Brake Technologies by 59,168.4% in the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock valued at $1,641,000 after acquiring an additional 11,242 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Westinghouse Air Brake Technologies by 12.3% during the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock worth $3,534,000 after purchasing an additional 2,457 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.