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

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price increased by equities researchers at Stephens from $165.00 to $180.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Stephens’ price target indicates a potential upside of 10.42% from the company’s current price.

A number of other equities analysts also recently issued reports on WAB. Redburn Atlantic downgraded Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a research note on Thursday, February 15th. Bank of America raised their price objective on 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. Wells Fargo & Company raised their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $115.00 to $150.00 in a research note on Thursday, January 11th. Finally, The Goldman Sachs Group increased their target price on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $153.45.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB traded down $0.36 during trading hours on Thursday, reaching $163.02. The stock had a trading volume of 643,499 shares, compared to its average volume of 1,044,712. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.71 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $167.49. The firm has a 50-day moving average of $142.63 and a 200-day moving average of $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. Equities research analysts predict that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current year.

Insider Activity

In other news, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the completion of the sale, the executive vice president now owns 24,792 shares in the company, valued at $3,482,284.32. 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, CEO Rafael Santana sold 40,219 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total transaction of $374,747.28. Following the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at $3,482,284.32. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds have recently bought and sold shares of the business. iA Global Asset Management Inc. bought a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at about $1,915,000. First Hawaiian Bank increased its holdings in shares of Westinghouse Air Brake Technologies by 49.1% in the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 1,167 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Westinghouse Air Brake Technologies in the fourth quarter valued at approximately $1,030,000. Watchman Group Inc. increased its holdings in shares of Westinghouse Air Brake Technologies by 0.9% in 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 in the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Westinghouse Air Brake Technologies by 5.7% in the third quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock valued at $15,420,000 after purchasing an additional 7,785 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.