Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) had its price target raised by analysts at Morgan Stanley from $107.00 to $108.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price suggests a potential upside of 7.53% from the company’s previous close.
A number of other analysts have also issued reports on the stock. Bank of America upgraded shares of Westinghouse Air Brake Technologies from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 17th. Citigroup lifted their price objective on shares of Westinghouse Air Brake Technologies from $95.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. KeyCorp lifted their price objective on shares of Westinghouse Air Brake Technologies from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. Stephens lifted their price target on shares of Westinghouse Air Brake Technologies from $110.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, February 16th. Finally, Raymond James lifted their price target on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Four equity research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.
Westinghouse Air Brake Technologies Trading Down 0.1 %
Shares of WAB stock opened at $100.44 on Thursday. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48. The company has a quick ratio of 0.66, a current ratio of 1.25 and a debt-to-equity ratio of 0.37. Westinghouse Air Brake Technologies has a fifty-two week low of $78.26 and a fifty-two week high of $107.86. The firm’s 50 day moving average price is $100.80 and its two-hundred day moving average price is $99.06.
Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The transportation company reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Westinghouse Air Brake Technologies had a net margin of 7.57% and a return on equity of 8.88%. Westinghouse Air Brake Technologies’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. On average, analysts anticipate that Westinghouse Air Brake Technologies will post 5.38 EPS for the current year.
Insider Buying and Selling at Westinghouse Air Brake Technologies
In other Westinghouse Air Brake Technologies news, insider Michael Fetsko sold 7,676 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $104.63, for a total transaction of $803,139.88. Following the completion of the sale, the insider now owns 32,244 shares in the company, valued at $3,373,689.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Rafael Santana sold 78,277 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $104.78, for a total transaction of $8,201,864.06. Following the completion of the transaction, the chief executive officer now owns 72,577 shares of the company’s stock, valued at $7,604,618.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Fetsko sold 7,676 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $104.63, for a total transaction of $803,139.88. Following the transaction, the insider now directly owns 32,244 shares of the company’s stock, valued at approximately $3,373,689.72. The disclosure for this sale can be found here. Insiders sold a total of 88,834 shares of company stock worth $9,306,731 over the last 90 days. Insiders own 1.22% of the company’s stock.
Hedge Funds Weigh In On Westinghouse Air Brake Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cibc World Markets Corp acquired a new stake in Westinghouse Air Brake Technologies in the first quarter worth about $1,092,000. Eudaimonia Partners LLC acquired a new stake in Westinghouse Air Brake Technologies in the first quarter worth about $366,000. Neuberger Berman Group LLC lifted its holdings in Westinghouse Air Brake Technologies by 2,233.1% in the first quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock worth $23,589,000 after purchasing an additional 234,764 shares during the period. Forsta AP Fonden lifted its holdings in Westinghouse Air Brake Technologies by 1.8% in the third quarter. Forsta AP Fonden now owns 33,500 shares of the transportation company’s stock worth $2,725,000 after purchasing an additional 600 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Westinghouse Air Brake Technologies by 0.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 99,700 shares of the transportation company’s stock worth $8,111,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 89.47% of the company’s stock.
Westinghouse Air Brake Technologies Company Profile
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Westinghouse Air Brake Technologies Corp. engages in the provision of equipment, systems, and value-added services for the rail industry. It operates through the Freight and Transit segments. The Freight segment builds new locomotives, manufactures and services components for new and existing freight cars and locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, and signal design and engineering services, and provides related heat exchange and cooling systems.
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