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

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price boosted by analysts at KeyCorp from $155.00 to $185.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. KeyCorp’s target price suggests a potential upside of 13.54% from the company’s current price.

A number of other research firms have also recently weighed in on WAB. Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. 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 report on Monday, April 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Finally, TD Cowen lifted their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.18.

Westinghouse Air Brake Technologies Trading Down 0.3 %

Westinghouse Air Brake Technologies stock traded down $0.44 during midday trading on Thursday, hitting $162.94. 814,035 shares of the stock were exchanged, compared to its average volume of 1,047,089. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $167.49. The stock has a market capitalization of $28.81 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 1.71 and a beta of 1.40. The stock’s 50-day simple moving average is $142.63 and its 200 day simple moving average is $127.64. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Insider Activity at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hehir sold 5,470 shares of the stock in a transaction 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 directly owns 23,065 shares in the company, valued at $3,132,227. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,964 shares of company stock valued at $8,924,584. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of WAB. Applied Finance Capital Management LLC increased its stake in Westinghouse Air Brake Technologies by 5.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock worth $15,420,000 after purchasing an additional 7,785 shares in the last quarter. Watchman Group Inc. increased its stake in Westinghouse Air Brake Technologies by 0.9% in the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 269 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth about $204,000. Industrial Alliance Investment Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $498,000. Finally, iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $1,915,000. 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.