Susquehanna Increases Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $190.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price increased by Susquehanna from $160.00 to $190.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Several other equities analysts have also recently weighed in on WAB. The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Bank of America boosted their target price on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a research report on Monday, April 15th. Redburn Atlantic cut 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 report on Thursday, February 15th. TD Cowen boosted their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a hold rating in a research report on Thursday. Finally, Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an overweight rating and a $137.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $156.18.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB opened at $163.18 on Thursday. The firm has a market cap of $28.85 billion, a PE ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40. The stock’s fifty day moving average price is $143.19 and its two-hundred day moving average price is $127.89. 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 1 year low of $91.89 and a 1 year high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. On average, equities research analysts forecast that Westinghouse Air Brake Technologies will post 7.2 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Insider Activity

In other news, EVP Nicole B. Theophilus sold 2,668 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,482,284.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,792 shares in the company, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,964 shares of company stock valued at $8,924,584. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WAB. iA Global Asset Management Inc. purchased a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at $1,915,000. Applied Finance Capital Management LLC boosted its stake in Westinghouse Air Brake Technologies by 9.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after purchasing an additional 14,285 shares during the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at $1,030,000. BNP Paribas Financial Markets boosted its stake in Westinghouse Air Brake Technologies by 7.7% during the 4th 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 last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at $498,000. Hedge funds and other 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.