Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 12-Month High – What’s Next?

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) hit a new 52-week high during trading on Wednesday . The company traded as high as $207.70 and last traded at $207.03, with a volume of 854088 shares traded. The stock had previously closed at $205.65.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America raised their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Susquehanna raised their target price 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. The Goldman Sachs Group upped 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. KeyCorp raised their price objective 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 upped 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Westinghouse Air Brake Technologies Trading Up 0.7 %

The business’s 50-day moving average price is $196.76 and its 200-day moving average price is $181.32. The firm has a market capitalization of $35.59 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) 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 company 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 posted $1.70 EPS. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP David L. Deninno sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $188.60, for a total transaction of $1,886,000.00. Following the completion of the transaction, the vice president now directly owns 55,352 shares of the company’s stock, valued at approximately $10,439,387.20. This represents a 15.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the completion of the transaction, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at $1,134,951.93. The trade was a 32.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,393 shares of company stock valued at $9,350,243 over the last quarter. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in shares of Westinghouse Air Brake Technologies by 4.4% during the 3rd quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock valued at $892,000 after acquiring an additional 209 shares during the period. Pinnacle Bancorp Inc. raised its holdings 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 purchasing an additional 55 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Westinghouse Air Brake Technologies by 22.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock worth $447,000 after buying an additional 455 shares in the last quarter. Border to Coast Pensions Partnership Ltd grew its stake in 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 last quarter. Finally, Eastern Bank purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $33,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.