Brokerages Set Westinghouse Air Brake Technologies Co. (NYSE:WAB) Target Price at $175.30

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $175.30.

A number of analysts recently issued reports on the company. Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price objective on shares of 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. KeyCorp upped 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 increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

Westinghouse Air Brake Technologies Stock Performance

NYSE WAB opened at $193.03 on Friday. The firm has a market cap of $33.18 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. 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 company’s 50 day moving average is $195.69 and its 200-day moving average is $175.83. Westinghouse Air Brake Technologies has a 12-month low of $123.76 and a 12-month high of $207.51.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results 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. 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 analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the firm posted $1.70 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Westinghouse Air Brake Technologies will post 7.6 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 13.33%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Albert J. Neupaver sold 35,722 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 614,447 shares of the company’s stock, valued at $115,946,148.90. The trade was a 5.49 % 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 90 days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of large investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. grew its position in Westinghouse Air Brake Technologies by 55.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Eastern Bank purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Garde Capital Inc. bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $110,000. Camden National Bank purchased a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $222,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Westinghouse Air Brake Technologies by 10.4% during the 3rd 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 last quarter. Hedge funds and other 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.