Westinghouse Air Brake Technologies (NYSE:WAB) PT Raised to $180.00 at Stephens

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price hoisted by Stephens from $165.00 to $180.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They issued an overweight rating and a $137.00 price target for the company. Bank of America increased their price target on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research report on Monday, April 15th. TD Cowen increased their price target on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a research report on Thursday. KeyCorp increased their price target on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price objective on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $156.18.

Westinghouse Air Brake Technologies Price Performance

NYSE:WAB opened at $164.36 on Thursday. The business’s 50-day moving average price is $144.38 and its 200 day moving average price is $128.89. The firm has a market cap of $28.99 billion, a P/E ratio of 32.10, a PEG ratio of 1.74 and a beta of 1.40. Westinghouse Air Brake Technologies has a 52-week low of $91.89 and a 52-week high of $167.49. The company has a quick ratio of 0.63, a current ratio of 1.52 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company earned $1.28 earnings per share. Westinghouse Air Brake Technologies’s revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity at Westinghouse Air Brake Technologies

In related news, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 approximately $3,132,227. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total value of $895,975.27. Following the completion of the sale, the vice president now owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction that occurred on 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 directly owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAB. V Square Quantitative Management LLC acquired a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $204,000. First Hawaiian Bank lifted its holdings in Westinghouse Air Brake Technologies by 49.1% in the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock worth $449,000 after purchasing an additional 1,167 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $498,000. Handelsinvest Investeringsforvaltning acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter worth approximately $1,030,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies during the third quarter worth approximately $1,915,000. 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.