KeyCorp Forecasts Strong Price Appreciation for Westinghouse Air Brake Technologies (NYSE:WAB) Stock

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective increased by KeyCorp from $200.00 to $220.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other brokerages also recently commented on WAB. The Goldman Sachs Group lifted their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens raised their price target 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. Bank of America increased their price objective on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Susquehanna upped 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 research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Stock Down 0.8 %

Shares of WAB opened at $195.17 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 52 week low of $114.08 and a 52 week high of $202.84. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.42 and a beta of 1.27. The stock has a fifty day moving average of $184.95 and a 200-day moving average of $170.44.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the previous year, the business posted $1.70 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.61 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.41%. Westinghouse Air Brake Technologies’s payout ratio is 13.33%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 $115,946,148.90. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total value of $1,886,000.00. Following the completion of the transaction, the vice president now owns 55,352 shares in the company, valued at $10,439,387.20. This represents a 15.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,562 shares of company stock valued at $10,040,379. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. boosted its holdings in Westinghouse Air Brake Technologies by 55.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Eastern Bank bought a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at about $33,000. Massmutual Trust Co. FSB ADV boosted its holdings in Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth about $204,000. Finally, Camden National Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $222,000. 91.69% of the stock is owned by hedge funds and other 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.