Bank of America Forecasts Strong Price Appreciation for Westinghouse Air Brake Technologies (NYSE:WAB) Stock

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price upped by Bank of America from $225.00 to $226.00 in a report issued on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the stock. KeyCorp increased 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 research note on Wednesday, November 13th. The Goldman Sachs Group increased their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Susquehanna boosted their price target 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. Finally, Stephens increased their price objective on 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 assigned a buy rating to the stock. According to data from MarketBeat, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and an average price target of $188.50.

Westinghouse Air Brake Technologies Stock Up 1.2 %

NYSE:WAB opened at $201.70 on Wednesday. The company has a market cap of $34.67 billion, a PE ratio of 33.62, a PEG ratio of 1.21 and a beta of 1.27. The stock has a 50-day simple moving average of $196.62 and a 200 day simple moving average of $180.33. 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 $125.67 and a 52-week high of $207.51.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. On average, sell-side analysts expect that Westinghouse Air Brake Technologies will post 7.6 EPS for the current fiscal year.

Insider Activity

In related news, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction 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 sale, the director now owns 614,447 shares in the company, valued at approximately $115,946,148.90. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the transaction, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This trade represents a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,393 shares of company stock valued at $9,350,243 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bridges Investment Management Inc. bought a new stake in shares of Westinghouse Air Brake Technologies during the second quarter worth approximately $360,000. UMB Bank n.a. lifted its holdings in 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 worth $892,000 after purchasing an additional 209 shares during the last quarter. Pinnacle Bancorp Inc. boosted 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 purchasing an additional 55 shares during the period. V Square Quantitative Management LLC grew its holdings 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 buying an additional 455 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its position in Westinghouse Air Brake Technologies by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after buying an additional 8,575 shares during the period. 91.69% of the stock is owned by 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.