KeyCorp Issues Positive Forecast for Westinghouse Air Brake Technologies (NYSE:WAB) Stock Price

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price upped by equities research analysts at KeyCorp from $200.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. KeyCorp’s price target would indicate a potential upside of 11.84% from the company’s previous close.

Several other research analysts have also weighed in on WAB. Bank of America lifted their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Stephens boosted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Susquehanna upped their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.30.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB opened at $196.71 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The stock has a market cap of $33.81 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.27. The stock’s 50-day moving average price is $184.26 and its two-hundred day moving average price is $170.15. Westinghouse Air Brake Technologies has a 1 year low of $114.08 and a 1 year high of $202.84.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.70 earnings per share. On average, equities analysts predict that Westinghouse Air Brake Technologies will post 7.61 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the sale, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. This represents a 42.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 55,352 shares of the company’s stock, 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 90 days, insiders sold 53,562 shares of company stock worth $10,040,379. 1.10% of the stock is owned by insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth about $61,474,000. Rhumbline Advisers increased its position in Westinghouse Air Brake Technologies by 2.1% during the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock worth $53,023,000 after buying an additional 7,012 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 valued at $50,665,000 after buying an additional 13,683 shares during the period. Border to Coast Pensions Partnership Ltd lifted its position in shares of 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 valued at $36,431,000 after buying an additional 8,575 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in shares of 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 worth $9,198,000 after acquiring an additional 2,100 shares during the period. 91.69% of the stock is owned by institutional investors.

Westinghouse Air Brake Technologies Company Profile

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.