Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $162.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target increased by Bank of America from $156.00 to $162.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other analysts have also commented on the company. Redburn Atlantic lowered Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price objective for the company. in a report on Thursday, February 15th. KeyCorp upped 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. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and increased their price objective for the company from $115.00 to $150.00 in a report on Thursday, January 11th. TD Cowen increased their target price on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the stock a market perform rating in a research report on Thursday, February 15th. Finally, Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a positive rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Stock Down 0.6 %

Shares of NYSE:WAB opened at $144.55 on Monday. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of 31.98, a P/E/G ratio of 1.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.63. The business’s 50-day moving average is $141.91 and its 200-day moving average is $126.31. Westinghouse Air Brake Technologies has a 1 year low of $91.89 and a 1 year high of $151.00.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 17.70%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total transaction of $895,975.27. Following the completion of the sale, the vice president now owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rafael Santana sold 40,219 shares of the business’s 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 directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Insiders sold a total of 63,964 shares of company stock worth $8,924,584 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WAB. Cibc World Markets Corp purchased a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth $1,092,000. Eudaimonia Partners LLC purchased a new stake in shares of Westinghouse Air Brake Technologies during the 1st quarter valued at about $366,000. Neuberger Berman Group LLC raised its position in shares of Westinghouse Air Brake Technologies by 2,233.1% during the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock valued at $23,589,000 after buying an additional 234,764 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter valued at about $30,000. Finally, State of Tennessee Treasury Department raised its position in shares of Westinghouse Air Brake Technologies by 13.8% during the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock valued at $11,645,000 after buying an additional 13,949 shares in the last quarter. 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.