Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $175.30 Average Target Price from Analysts

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $175.30.

A number of analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their price target on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens lifted their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Susquehanna upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB stock opened at $198.29 on Tuesday. The company has a market cap of $34.08 billion, a PE ratio of 33.05, a PEG ratio of 1.42 and a beta of 1.27. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $187.45 and its 200-day simple moving average is $171.33. Westinghouse Air Brake Technologies has a 12-month low of $114.45 and a 12-month high of $202.84.

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

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Westinghouse Air Brake Technologies’s payout ratio is 13.33%.

Insider Buying and Selling

In related news, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction dated 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 sale, the director now directly owns 614,447 shares of the company’s stock, valued at approximately $115,946,148.90. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Deninno sold 875 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $165,112.50. Following the transaction, the vice president now directly owns 55,352 shares of the company’s stock, valued at $10,444,922.40. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,562 shares of company stock valued at $10,040,379 over the last three months. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently made changes to their positions in the stock. Erste Asset Management GmbH purchased a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth about $61,474,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Westinghouse Air Brake Technologies during the third quarter valued at approximately $7,128,000. BNP Paribas Financial Markets grew its stake in Westinghouse Air Brake Technologies by 5.2% during the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after buying an additional 13,683 shares during the period. Plato Investment Management Ltd increased its position in shares of 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 worth $1,641,000 after acquiring an additional 11,242 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd raised its stake in shares of Westinghouse Air Brake Technologies by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after acquiring an additional 8,575 shares during the period. Institutional investors and hedge funds 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.