Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $185.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price upped by KeyCorp from $155.00 to $185.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other equities research analysts have also commented on WAB. Bank of America raised their price target on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a research report on Monday, April 15th. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 price objective for the company. The Goldman Sachs Group increased their price objective on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Finally, Stephens increased their price objective on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an overweight rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Trading Down 0.1 %

NYSE:WAB opened at $163.18 on Thursday. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49. The business’s 50-day moving average price is $143.19 and its two-hundred day moving average price is $127.89. The company has a current ratio of 1.52, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $28.85 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. On average, equities analysts expect that Westinghouse Air Brake Technologies will post 7.2 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, February 22nd. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s payout ratio is presently 15.63%.

Insider Activity

In other news, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now directly owns 23,065 shares in the company, valued at $3,132,227. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the sale, the chief executive officer now owns 123,019 shares in the company, valued at $17,298,931.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors and hedge funds have recently modified their holdings of WAB. iA Global Asset Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $1,915,000. Applied Finance Capital Management LLC boosted its holdings in shares of Westinghouse Air Brake Technologies by 9.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock worth $20,226,000 after buying an additional 14,285 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth approximately $1,030,000. BNP Paribas Financial Markets boosted its holdings in shares of Westinghouse Air Brake Technologies by 7.7% during the 4th quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock worth $10,395,000 after buying an additional 5,859 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $498,000. 91.69% of the stock is currently 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.