Westinghouse Air Brake Technologies (NYSE:WAB – Get Free Report) had its target price lifted by equities researchers at Bank of America from $225.00 to $226.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 13.52% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Susquehanna boosted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Stephens increased their target price on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, KeyCorp increased their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.50.
Check Out Our Latest Stock Analysis on WAB
Westinghouse Air Brake Technologies Price Performance
Westinghouse Air Brake Technologies (NYSE:WAB – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.87 by $0.13. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. Westinghouse Air Brake Technologies’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, equities analysts anticipate that Westinghouse Air Brake Technologies will post 7.6 EPS for the current fiscal year.
Insider Buying and Selling
In other news, VP David L. Deninno sold 875 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $165,112.50. Following the completion of the sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at $10,444,922.40. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert J. Neupaver sold 35,722 shares of the business’s 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 completion of the sale, the director now directly owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,393 shares of company stock worth $9,350,243. Corporate insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of WAB. Pinnacle Bancorp Inc. increased its position 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 buying an additional 55 shares during the last quarter. Bridges Investment Management Inc. increased its holdings in shares of Westinghouse Air Brake Technologies by 3.4% during the 3rd quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company’s stock valued at $428,000 after acquiring an additional 77 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Westinghouse Air Brake Technologies by 10.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after acquiring an additional 172 shares in the last quarter. Eastern Bank acquired a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $33,000. Finally, UMB Bank n.a. boosted its position in Westinghouse Air Brake Technologies by 4.4% during the third quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock worth $892,000 after purchasing an additional 209 shares during the period. Institutional investors own 91.69% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Westinghouse Air Brake Technologies
- Technology Stocks Explained: Here’s What to Know About Tech
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- Buy P&G Now, Before It Sets A New All-Time High
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Micron Technology: Riding the AI Wave to Long-Term Growth
Receive News & Ratings for Westinghouse Air Brake Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westinghouse Air Brake Technologies and related companies with MarketBeat.com's FREE daily email newsletter.