Westinghouse Air Brake Technologies (NYSE:WAB) Stock Price Expected to Rise, Bank of America Analyst Says

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective raised by Bank of America from $225.00 to $226.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other analysts also recently issued reports on the company. KeyCorp upped their price target on 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 report on Thursday, October 24th. Stephens boosted their price objective 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. Finally, Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.50.

Westinghouse Air Brake Technologies Trading Up 1.2 %

NYSE:WAB opened at $200.53 on Wednesday. The company has a market capitalization of $34.47 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.21 and a beta of 1.27. The stock’s 50 day moving average price is $196.60 and its 200 day moving average price is $179.88. 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 $125.56 and a 52 week high of $207.51.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly 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 company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. Westinghouse Air Brake Technologies’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 EPS. On average, research analysts forecast that Westinghouse Air Brake Technologies will post 7.6 EPS for the current fiscal year.

Insider Activity at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred 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 sale, the chief accounting officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Deninno sold 10,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total value of $1,886,000.00. Following the completion of the transaction, the vice president now owns 55,352 shares of the company’s stock, valued at $10,439,387.20. The trade was a 15.30 % 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 worth $9,350,243 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bridges Investment Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the 2nd quarter worth approximately $360,000. UMB Bank n.a. raised its stake in Westinghouse Air Brake Technologies by 4.4% during the third quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock worth $892,000 after acquiring an additional 209 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings 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 valued at $28,000 after acquiring an additional 55 shares during the period. V Square Quantitative Management LLC boosted its stake 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 valued at $447,000 after purchasing an additional 455 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd grew its holdings in shares of 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 worth $36,431,000 after purchasing an additional 8,575 shares during the last quarter. Institutional investors and hedge funds 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.