Stephens Raises Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $180.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price raised by Stephens from $165.00 to $180.00 in a report published on Thursday morning, Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and lifted their price objective for the stock from $115.00 to $150.00 in a report on Thursday, January 11th. Susquehanna lifted their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a positive rating in a report on Thursday. Bank of America lifted their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a report on Monday, April 15th. Finally, Redburn Atlantic cut shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 target price on the stock. in a research 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. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Stock Up 0.7 %

Shares of NYSE:WAB opened at $164.36 on Thursday. The firm has a fifty day moving average price of $144.38 and a two-hundred day moving average price of $128.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49. The company has a market cap of $28.99 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.73 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, beating 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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $1.28 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts anticipate that Westinghouse Air Brake Technologies will post 7.32 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total transaction of $895,975.27. Following the sale, the vice president now owns 65,535 shares of the company’s stock, valued at $8,887,201.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now directly owns 23,065 shares in the company, 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 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank lifted its stake in shares of Westinghouse Air Brake Technologies by 4.4% in the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock worth $539,000 after buying an additional 157 shares in the last quarter. Watchman Group Inc. lifted its position in Westinghouse Air Brake Technologies by 0.9% during the third quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock valued at $3,073,000 after purchasing an additional 269 shares during the period. V Square Quantitative Management LLC lifted its position in Westinghouse Air Brake Technologies by 36.8% during the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock valued at $382,000 after purchasing an additional 706 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at approximately $498,000. Finally, BNP Paribas Financial Markets lifted its position in Westinghouse Air Brake Technologies by 7.7% during the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after purchasing an additional 5,859 shares during the period. 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.