Westinghouse Air Brake Technologies (NYSE:WAB) Given New $185.00 Price Target at KeyCorp

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective increased by KeyCorp from $155.00 to $185.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other brokerages have also commented on WAB. Bank of America boosted their price target on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a report on Monday, April 15th. Susquehanna increased their price target on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research report on Thursday. Stephens increased their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research report on Thursday. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and increased their price target for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Finally, Wells Fargo & Company increased their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $156.18.

Westinghouse Air Brake Technologies Stock Down 0.1 %

Shares of Westinghouse Air Brake Technologies stock opened at $163.18 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. Westinghouse Air Brake Technologies has a 12 month low of $91.89 and a 12 month high of $167.49. The business has a fifty day simple moving average of $143.19 and a 200 day simple moving average of $127.89. The stock has a market cap of $28.85 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Research analysts predict that Westinghouse Air Brake Technologies will post 7.2 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the transaction, the director now owns 23,065 shares in the company, valued at approximately $3,132,227. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rafael Santana sold 40,219 shares of the business’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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now owns 23,065 shares in the company, valued at approximately $3,132,227. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several institutional investors have recently bought and sold shares of WAB. iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies in the third quarter valued at approximately $1,915,000. Applied Finance Capital Management LLC increased its stake in Westinghouse Air Brake Technologies by 9.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after acquiring an additional 14,285 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at $1,030,000. BNP Paribas Financial Markets increased its stake in Westinghouse Air Brake Technologies by 7.7% in the fourth quarter. BNP Paribas Financial Markets now owns 81,916 shares of the transportation company’s stock valued at $10,395,000 after acquiring an additional 5,859 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies in the third quarter valued at $498,000. Hedge funds and other 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.