Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 1-Year High – Here’s Why

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price reached a new 52-week high on Thursday . The company traded as high as $210.30 and last traded at $210.72, with a volume of 67936 shares traded. The stock had previously closed at $206.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports 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 report on Wednesday, January 15th. Susquehanna lifted 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. 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 research note on Wednesday, November 13th. Stephens increased 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Westinghouse Air Brake Technologies Stock Up 1.7 %

The company has a market capitalization of $36.17 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 1.33 and a beta of 1.27. The business has a fifty day simple moving average of $198.05 and a two-hundred day simple moving average of $183.14. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Insider Activity at Westinghouse Air Brake Technologies

In related news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at $1,134,951.93. This trade represents a 32.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Large investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its position 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 buying an additional 209 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position 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 worth $28,000 after purchasing an additional 55 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Westinghouse Air Brake Technologies by 22.7% during the third quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock worth $447,000 after purchasing an additional 455 shares in the last quarter. Border to Coast Pensions Partnership Ltd grew its stake in shares of Westinghouse Air Brake Technologies by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after purchasing an additional 8,575 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $33,000. Institutional investors own 91.69% of the company’s stock.

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.