Analysts Set Westinghouse Air Brake Technologies Co. (NYSE:WAB) PT at $179.56

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $183.25.

Several research firms have issued reports on WAB. The Goldman Sachs Group boosted 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. Susquehanna increased their price objective 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. KeyCorp boosted their target price 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. Finally, Stephens lifted their price target 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.

Westinghouse Air Brake Technologies Price Performance

Shares of NYSE:WAB opened at $189.05 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $32.50 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.27. The firm’s 50 day moving average price is $196.42 and its 200-day moving average price is $179.22. Westinghouse Air Brake Technologies has a twelve month low of $125.56 and a twelve month high of $207.51.

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 net margin of 10.25% and a return on equity of 12.52%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the firm earned $1.70 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Westinghouse Air Brake Technologies will post 7.6 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is 13.33%.

Insiders Place Their Bets

In other news, VP David L. Deninno sold 875 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $165,112.50. Following the sale, the vice president now owns 55,352 shares of the company’s stock, valued at approximately $10,444,922.40. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the transaction, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,393 shares of company stock valued at $9,350,243 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several large investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Eastern Bank purchased a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth $33,000. Garde Capital Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth $110,000. Camden National Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Westinghouse Air Brake Technologies by 10.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after buying an additional 172 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Westinghouse Air Brake Technologies Company Profile

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.