The Goldman Sachs Group Boosts Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $152.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price upped by The Goldman Sachs Group from $138.00 to $152.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research firms have also commented on WAB. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their price objective for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. Redburn Atlantic lowered Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price objective for the company. in a research report on Thursday, February 15th. TD Cowen upped their target price on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the company a market perform rating in a report on Thursday, February 15th. Morgan Stanley began coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 price target for the company. Finally, Bank of America lifted their target price on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of Moderate Buy and an average target price of $146.91.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB opened at $144.27 on Tuesday. The stock’s fifty day moving average is $142.06 and its 200-day moving average is $126.43. The firm has a market capitalization of $25.51 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.40. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $151.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Westinghouse Air Brake Technologies’s payout ratio is 17.70%.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now owns 23,065 shares in the company, valued at $3,132,227. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicole B. Theophilus sold 2,668 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the sale, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,964 shares of company stock worth $8,924,584. Insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

Several institutional investors have recently made changes to their positions in WAB. Coppell Advisory Solutions Corp. acquired a new position in Westinghouse Air Brake Technologies during the fourth quarter worth $30,000. Coppell Advisory Solutions LLC bought a new position in shares of Westinghouse Air Brake Technologies in the second quarter valued at approximately $33,000. Resources Management Corp CT ADV boosted its holdings in shares of Westinghouse Air Brake Technologies by 1,292.4% in the 2nd quarter. Resources Management Corp CT ADV now owns 1,100 shares of the transportation company’s stock worth $121,000 after acquiring an additional 1,021 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $204,000. Finally, Quantitative Investment Management LLC acquired a new stake in Westinghouse Air Brake Technologies during the 2nd quarter valued at $314,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.