Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $70.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price boosted by Citigroup from $60.00 to $70.00 in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on the company. Wolfe Research cut Westinghouse Air Brake Technologies from a market perform rating to an underperform rating in a research note on Tuesday, July 7th. Morgan Stanley dropped their price target on Westinghouse Air Brake Technologies from $76.00 to $70.00 and set an overweight rating on the stock in a research note on Tuesday, May 5th. Cowen lifted their price target on Westinghouse Air Brake Technologies from $65.00 to $67.00 and gave the stock an outperform rating in a research note on Wednesday, May 13th. Wells Fargo & Co reissued a buy rating on shares of Westinghouse Air Brake Technologies in a research note on Tuesday, July 28th. Finally, Goldman Sachs Group cut Westinghouse Air Brake Technologies from a buy rating to a neutral rating and dropped their price target for the stock from $70.00 to $65.00 in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Westinghouse Air Brake Technologies presently has a consensus rating of Hold and a consensus target price of $72.25.

NYSE:WAB opened at $62.19 on Wednesday. The business’s 50-day moving average price is $59.87 and its 200 day moving average price is $61.65. The firm has a market cap of $12.01 billion, a P/E ratio of 27.89, a PEG ratio of 5.62 and a beta of 1.51. Westinghouse Air Brake Technologies has a 52-week low of $35.07 and a 52-week high of $81.75. The company has a quick ratio of 0.82, a current ratio of 1.14 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Tuesday, July 28th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. Westinghouse Air Brake Technologies had a return on equity of 7.60% and a net margin of 5.29%. Westinghouse Air Brake Technologies’s revenue was down 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. Sell-side analysts expect that Westinghouse Air Brake Technologies will post 3.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.77%. Westinghouse Air Brake Technologies’s payout ratio is presently 11.51%.

In other Westinghouse Air Brake Technologies news, Director William E. Kassling acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $51.17 per share, for a total transaction of $511,700.00. Following the transaction, the director now owns 69,730 shares of the company’s stock, valued at approximately $3,568,084.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.35% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Verus Capital Partners LLC acquired a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter valued at about $25,000. Moody National Bank Trust Division lifted its holdings in shares of Westinghouse Air Brake Technologies by 9.3% during the 1st quarter. Moody National Bank Trust Division now owns 4,981 shares of the transportation company’s stock valued at $240,000 after buying an additional 422 shares during the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Westinghouse Air Brake Technologies by 4.2% during the 1st quarter. Hartford Investment Management Co. now owns 19,896 shares of the transportation company’s stock valued at $958,000 after buying an additional 810 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Westinghouse Air Brake Technologies by 44.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,570 shares of the transportation company’s stock valued at $609,000 after buying an additional 3,263 shares during the last quarter. Finally, Thompson Investment Management Inc. lifted its holdings in shares of Westinghouse Air Brake Technologies by 7.4% during the 1st quarter. Thompson Investment Management Inc. now owns 60,372 shares of the transportation company’s stock valued at $2,906,000 after buying an additional 4,156 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

About Westinghouse Air Brake Technologies

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

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The Fly

Analyst Recommendations for Westinghouse Air Brake Technologies (NYSE:WAB)

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