Westinghouse Air Brake Technologies (NYSE:WAB) Price Target Raised to $226.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price boosted by Bank of America from $225.00 to $226.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

WAB has been the subject of several other research reports. KeyCorp raised their price objective on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Susquehanna raised their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Stephens boosted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Westinghouse Air Brake Technologies Trading Up 1.2 %

WAB stock opened at $201.70 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The firm has a market cap of $34.67 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.21 and a beta of 1.27. Westinghouse Air Brake Technologies has a 1-year low of $125.67 and a 1-year high of $207.51. The business’s 50 day moving average is $196.62 and its 200-day moving average is $180.33.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the company posted $1.70 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Westinghouse Air Brake Technologies will post 7.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In related news, CAO John A. Mastalerz, Jr. sold 2,796 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total transaction of $558,389.16. Following the completion of the sale, the chief accounting officer now directly owns 5,683 shares of the company’s stock, valued at $1,134,951.93. The trade was a 32.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the completion of the transaction, the director now directly owns 614,447 shares in the company, valued at $115,946,148.90. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,393 shares of company stock worth $9,350,243. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Westinghouse Air Brake Technologies

A number of large investors have recently made changes to their positions in WAB. Pinnacle Bancorp Inc. grew its stake in Westinghouse Air Brake Technologies by 55.0% in the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. Eastern Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at about $33,000. Garde Capital Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $110,000. Camden National Bank bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $222,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Westinghouse Air Brake Technologies by 10.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company’s stock worth $331,000 after buying an additional 172 shares during the period. 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.