Stephens Raises Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $205.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price lifted by Stephens from $190.00 to $205.00 in a research report sent to investors on Thursday, Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

A number of other brokerages have also recently issued reports on WAB. Bank of America lifted their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Susquehanna lifted their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” and an average target price of $171.80.

Westinghouse Air Brake Technologies Stock Down 0.2 %

Shares of WAB stock opened at $188.76 on Thursday. The stock has a market cap of $33.29 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. Westinghouse Air Brake Technologies has a one year low of $102.67 and a one year high of $192.48. The stock has a fifty day moving average price of $175.94 and a 200 day moving average price of $166.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. The firm 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 12.05% and a net margin of 9.94%. Westinghouse Air Brake Technologies’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.70 earnings per share. Analysts predict that Westinghouse Air Brake Technologies will post 7.47 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given 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 yield of 0.42%. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Insider Buying and Selling

In related news, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the completion of the sale, the director now directly owns 23,230 shares in the company, valued at $3,754,432.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the transaction, the insider now owns 5,606 shares in the company, valued at $928,017.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total value of $161,620.00. Following the transaction, the director now owns 23,230 shares in the company, valued at $3,754,432.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,392 shares of company stock worth $2,754,390 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

Several institutional investors have recently modified their holdings of the business. Forsta AP Fonden lifted its holdings in shares of Westinghouse Air Brake Technologies by 4.3% during the 3rd quarter. Forsta AP Fonden now owns 50,600 shares of the transportation company’s stock valued at $9,198,000 after purchasing an additional 2,100 shares in the last quarter. Eastern Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at about $33,000. Border to Coast Pensions Partnership Ltd lifted 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 in the last quarter. V Square Quantitative Management LLC lifted its stake in 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 valued at $447,000 after acquiring an additional 455 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in Westinghouse Air Brake Technologies by 55.0% in the 3rd 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. 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.