Westinghouse Air Brake Technologies (NYSE:WAB) Stock Price Expected to Rise, KeyCorp Analyst Says

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective upped by research analysts at KeyCorp from $200.00 to $220.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. KeyCorp’s price objective would suggest a potential upside of 11.84% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Susquehanna lifted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Bank of America lifted their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Stephens lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Westinghouse Air Brake Technologies Stock Performance

NYSE:WAB opened at $196.71 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. The firm’s 50-day moving average is $184.26 and its 200-day moving average is $170.15. Westinghouse Air Brake Technologies has a 52-week low of $114.08 and a 52-week high of $202.84. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.55 and a beta of 1.27.

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

Insider Transactions at Westinghouse Air Brake Technologies

In related news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the transaction, the insider now owns 5,606 shares in the company, valued at $928,017.24. This represents a 42.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David L. Deninno sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $188.60, for a total transaction of $1,886,000.00. Following the completion of the sale, the vice president now owns 55,352 shares of the company’s stock, valued at $10,439,387.20. The trade was a 15.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,562 shares of company stock valued at $10,040,379 in the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. raised its position in shares of Westinghouse Air Brake Technologies by 55.0% during the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in Westinghouse Air Brake Technologies by 3.4% during the 3rd quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company’s stock worth $428,000 after purchasing an additional 77 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Westinghouse Air Brake Technologies by 26.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. boosted its stake in shares of Westinghouse Air Brake Technologies by 3.4% in the 2nd quarter. UMB Bank n.a. now owns 4,701 shares of the transportation company’s stock valued at $743,000 after purchasing an additional 156 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after buying an additional 172 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.