Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $179.56 Consensus Target Price from Analysts

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $183.25.

A number of equities research analysts have recently weighed in on WAB shares. Susquehanna lifted their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Stephens increased their target price on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

Westinghouse Air Brake Technologies Stock Down 1.2 %

Shares of NYSE:WAB opened at $189.05 on Wednesday. Westinghouse Air Brake Technologies has a 1 year low of $125.56 and a 1 year high of $207.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The stock’s 50-day moving average is $196.42 and its 200 day moving average is $179.22. The company has a market cap of $32.50 billion, a PE ratio of 31.51, a P/E/G ratio of 1.45 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. Sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.6 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 13.33%.

Insiders Place Their Bets

In related news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the sale, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at $1,134,951.93. This trade represents a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Deninno sold 10,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $188.60, for a total value of $1,886,000.00. Following the sale, the vice president now owns 55,352 shares in the company, valued at approximately $10,439,387.20. This represents a 15.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,393 shares of company stock valued at $9,350,243. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH purchased a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at about $61,474,000. BNP Paribas Financial Markets boosted its holdings in Westinghouse Air Brake Technologies by 5.2% in the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after purchasing an additional 13,683 shares during the last quarter. Border to Coast Pensions Partnership Ltd boosted its holdings in Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after purchasing an additional 8,575 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $24,630,000. Finally, Forsta AP Fonden raised its stake in Westinghouse Air Brake Technologies by 4.3% during the 3rd quarter. Forsta AP Fonden now owns 50,600 shares of the transportation company’s stock valued at $9,198,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other 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.