Brokerages Set Westinghouse Air Brake Technologies Co. (NYSE:WAB) Target Price at $206.33

Westinghouse Air Brake Technologies Co. (NYSE:WAB) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $206.33.

Several research analysts have commented on the stock. Bank of America boosted their price objective on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Stephens reissued an “overweight” rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a report on Thursday, February 13th. Finally, StockNews.com downgraded Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 886 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total transaction of $161,553.24. Following the sale, the chief executive officer now directly owns 176,295 shares of the company’s stock, valued at $32,145,630.30. The trade was a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds have recently modified their holdings of the business. Camden National Bank bought a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Harvest Fund Management Co. Ltd increased its stake in shares of Westinghouse Air Brake Technologies by 10.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock valued at $331,000 after buying an additional 172 shares during the period. BNP Paribas Financial Markets raised its position in shares of Westinghouse Air Brake Technologies by 5.2% during the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after acquiring an additional 13,683 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $61,474,000. Finally, iA Global Asset Management Inc. boosted its holdings in Westinghouse Air Brake Technologies by 21.5% in the third quarter. iA Global Asset Management Inc. now owns 18,613 shares of the transportation company’s stock valued at $3,383,000 after acquiring an additional 3,288 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

WAB opened at $181.52 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.69 and a current ratio of 1.30. Westinghouse Air Brake Technologies has a 52-week low of $143.22 and a 52-week high of $210.88. The firm has a market cap of $31.01 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The business’s fifty day moving average is $191.63 and its 200-day moving average is $191.02.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, February 12th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. Sell-side analysts expect that Westinghouse Air Brake Technologies will post 8.54 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s payout ratio is currently 16.58%.

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.