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

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target hoisted by TD Cowen from $130.00 to $147.00 in a research report released on Thursday, MarketBeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a positive rating in a research report on Thursday, February 15th. Wells Fargo & Company upped their price objective on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Jefferies Financial Group raised shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and upped their price objective for the stock from $115.00 to $150.00 in a research report on Thursday, January 11th. Stephens upped their price objective on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Finally, Morgan Stanley assumed coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an overweight rating and a $137.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $156.18.

Westinghouse Air Brake Technologies Price Performance

NYSE WAB 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 company has a market capitalization 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. The firm’s 50 day moving average is $143.19 and its 200-day moving average is $127.89.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm’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 earned $1.28 earnings per share. Equities research analysts anticipate that Westinghouse Air Brake Technologies will post 7.2 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. 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 an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

Insider Activity

In other news, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the sale, the director now owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 of the company’s stock, valued at $17,298,931.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction that occurred on 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 directly owns 23,065 shares in the company, valued at approximately $3,132,227. The disclosure for this sale can be found here. Insiders have sold a total of 63,964 shares of company stock valued at $8,924,584 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in WAB. iA Global Asset Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $1,915,000. Applied Finance Capital Management LLC lifted its holdings in Westinghouse Air Brake Technologies by 9.8% during 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 purchasing an additional 14,285 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $1,030,000. BNP Paribas Financial Markets lifted its holdings in Westinghouse Air Brake Technologies by 7.7% during the fourth 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 in the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the third quarter valued at approximately $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.