Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $190.00 at Susquehanna

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price increased by Susquehanna from $160.00 to $190.00 in a report published on Thursday, Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the company. TD Cowen raised their price objective on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a hold rating in a report on Thursday. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 target price on the stock. Wells Fargo & Company raised their target price on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an overweight rating in a report on Thursday, February 15th. Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their target price for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Finally, KeyCorp raised their target price on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $156.18.

Westinghouse Air Brake Technologies Stock Up 0.7 %

Shares of NYSE:WAB opened at $164.36 on Thursday. The stock’s 50-day moving average price is $144.38 and its two-hundred day moving average price is $128.89. The company has a current ratio of 1.52, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. Westinghouse Air Brake Technologies has a 12-month low of $91.89 and a 12-month high of $167.49. The firm has a market cap of $28.99 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.74 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly 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 last year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts forecast that Westinghouse Air Brake Technologies will post 7.34 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders 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 an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies 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 transaction, the director now 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 worth $8,924,584 in the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WAB. V Square Quantitative Management LLC acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $204,000. First Hawaiian Bank boosted its position in Westinghouse Air Brake Technologies by 49.1% during the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 1,167 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $498,000. Handelsinvest Investeringsforvaltning acquired a new position in Westinghouse Air Brake Technologies during the 4th quarter valued at approximately $1,030,000. Finally, iA Global Asset Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $1,915,000. Institutional investors and hedge funds 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.