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

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective increased by Stephens from $165.00 to $180.00 in a research note published on Thursday morning, Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their target price for the stock from $115.00 to $150.00 in a research report on Thursday, January 11th. KeyCorp raised their target price on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. TD Cowen raised their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a hold rating in a research report on Thursday. Morgan Stanley initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an overweight rating and a $137.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of 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. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $156.18.

Westinghouse Air Brake Technologies Trading Down 0.1 %

Shares of WAB opened at $163.18 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $143.19 and a 200-day simple moving average of $127.89. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49. The stock has a market cap of $28.85 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the company posted $1.28 EPS. The company’s revenue was up 13.9% on a year-over-year basis. Equities analysts forecast that Westinghouse Air Brake Technologies will post 7.2 EPS 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 dividend of $0.20 per share. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, March 14th. The shares were 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 owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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. Insiders have sold 63,964 shares of company stock valued at $8,924,584 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Applied Finance Capital Management LLC boosted its holdings in shares of 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 valued at $15,420,000 after buying an additional 7,785 shares during the period. Watchman Group Inc. boosted its holdings in shares of 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 valued at $3,073,000 after buying an additional 269 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $204,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $498,000. Finally, iA Global Asset Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $1,915,000. Institutional investors own 91.69% of the company’s stock.

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.