Bank of America Raises Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $226.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price hoisted by investment analysts at Bank of America from $225.00 to $226.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective points to a potential upside of 14.03% from the company’s previous close.

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

Westinghouse Air Brake Technologies Trading Up 3.3 %

NYSE WAB opened at $198.19 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 company has a fifty day simple moving average of $196.48 and a two-hundred day simple moving average of $179.45. Westinghouse Air Brake Technologies has a 12-month low of $125.56 and a 12-month high of $207.51. The stock has a market cap of $34.07 billion, a P/E ratio of 33.03, a P/E/G ratio of 1.45 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Westinghouse Air Brake Technologies will post 7.6 earnings per share for the current year.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total value of $558,389.16. Following the transaction, the chief accounting officer now directly owns 5,683 shares in the company, valued at approximately $1,134,951.93. This represents a 32.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Albert J. Neupaver sold 35,722 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the transaction, the director now directly owns 614,447 shares of the company’s stock, 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. Insiders have sold 49,393 shares of company stock valued at $9,350,243 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WAB. Bridges Investment Management Inc. acquired a new position in Westinghouse Air Brake Technologies in the 2nd quarter valued at about $360,000. UMB Bank n.a. boosted its stake in shares of Westinghouse Air Brake Technologies by 4.4% in the third quarter. UMB Bank n.a. now owns 4,910 shares of the transportation company’s stock valued at $892,000 after purchasing an additional 209 shares during the period. Pinnacle Bancorp Inc. grew its holdings in shares of 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 purchasing an additional 55 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Westinghouse Air Brake Technologies by 22.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,461 shares of the transportation company’s stock worth $447,000 after buying an additional 455 shares during the period. Finally, Border to Coast Pensions Partnership Ltd grew its stake in shares of Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after acquiring an additional 8,575 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.