Westinghouse Air Brake Technologies (NYSE:WAB) Shares Gap Down After Earnings Miss

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $208.12, but opened at $192.00. Westinghouse Air Brake Technologies shares last traded at $186.55, with a volume of 669,694 shares changing hands.

The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 21st. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 16.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of 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. KeyCorp lifted their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Bank of America boosted their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group upped their target price 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Institutional Trading of Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. iA Global Asset Management Inc. raised its holdings in shares of Westinghouse Air Brake Technologies by 21.5% during the third quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock worth $3,383,000 after purchasing an additional 3,288 shares during the last quarter. Longboard Asset Management LP purchased a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter valued at about $252,000. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Westinghouse Air Brake Technologies by 4.5% in the 3rd 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 period. BNP Paribas Financial Markets raised its holdings in shares of Westinghouse Air Brake Technologies by 5.2% during the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock valued at $50,665,000 after acquiring an additional 13,683 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $7,128,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Price Performance

The stock has a 50 day moving average price of $199.13 and a 200-day moving average price of $186.01. 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 has a market capitalization of $32.53 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27.

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.