TD Cowen Increases Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $147.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price lifted by investment analysts at TD Cowen from $130.00 to $147.00 in a research report issued on Thursday, Briefing.com reports. The brokerage presently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential downside of 10.03% from the company’s previous close.

A number of other equities analysts also recently weighed in on WAB. The Goldman Sachs Group boosted their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Stephens boosted their target price on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Wells Fargo & Company boosted their target price on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. Finally, KeyCorp boosted their price target on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.45.

Westinghouse Air Brake Technologies Price Performance

NYSE:WAB opened at $163.38 on Thursday. The firm has a market cap of $28.89 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. Westinghouse Air Brake Technologies has a 12 month low of $91.89 and a 12 month high of $167.49. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $142.63 and its two-hundred day moving average price is $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Deninno sold 6,607 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total transaction of $895,975.27. Following the completion of the transaction, the vice president now owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,964 shares of company stock valued at $8,924,584. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WAB. Applied Finance Capital Management LLC boosted 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 buying an additional 7,785 shares during the period. Watchman Group Inc. boosted 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 buying an additional 269 shares during the period. V Square Quantitative Management LLC acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth $204,000. Industrial Alliance Investment Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth $498,000. Finally, iA Global Asset Management Inc. acquired a new position in Westinghouse Air Brake Technologies during the third quarter worth $1,915,000. Institutional investors and hedge funds 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.