Westinghouse Air Brake Technologies Co. (NYSE:WAB) Receives $156.18 Consensus PT from Analysts

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $156.18.

Several brokerages have recently issued reports on WAB. Bank of America raised their target price on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, April 15th. KeyCorp lifted their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Susquehanna upped their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, April 25th. Morgan Stanley assumed 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 price target on the stock. Finally, Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $115.00 to $150.00 in a report on Thursday, January 11th.

Insider Activity

In other news, Director Albert J. Neupaver sold 29,100 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total value of $4,703,433.00. Following the sale, the director now directly owns 595,412 shares in the company, valued at $96,236,441.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Westinghouse Air Brake Technologies news, insider Pascal Schweitzer sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $162.74, for a total transaction of $976,440.00. Following the transaction, the insider now owns 10,633 shares of the company’s stock, valued at approximately $1,730,414.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert J. Neupaver sold 29,100 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total value of $4,703,433.00. Following the transaction, the director now directly owns 595,412 shares in the company, valued at approximately $96,236,441.56. The disclosure for this sale can be found here. Insiders have sold a total of 109,794 shares of company stock worth $16,338,817 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. iA Global Asset Management Inc. acquired a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $1,915,000. First Hawaiian Bank increased its position in shares of 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 worth $449,000 after purchasing an additional 1,167 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth approximately $1,030,000. Watchman Group Inc. increased its position in shares of Westinghouse Air Brake Technologies by 0.9% during the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 269 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its position in shares of Westinghouse Air Brake Technologies by 5.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock worth $15,420,000 after purchasing an additional 7,785 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Up 0.2 %

WAB opened at $162.21 on Friday. The firm’s 50-day simple moving average is $146.94 and its 200-day simple moving average is $130.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.52. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $167.49. The firm has a market cap of $28.61 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.43 and a beta of 1.36.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Westinghouse Air Brake Technologies will post 7.34 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. Shareholders of record on Friday, February 23rd were paid a $0.20 dividend. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

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.