Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 12-Month High – Still a Buy?

Westinghouse Air Brake Technologies Co. (NYSE:WAB) reached a new 52-week high on Thursday . The stock traded as high as $210.30 and last traded at $210.72, with a volume of 67936 shares. The stock had previously closed at $206.81.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WAB. The Goldman Sachs Group boosted their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on 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. Bank of America raised their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. KeyCorp upped their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Westinghouse Air Brake Technologies Price Performance

The firm has a market capitalization of $35.70 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average is $198.46 and its two-hundred day moving average is $183.63.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies 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 completion of the sale, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This represents 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 accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Longboard Asset Management LP bought a new stake in Westinghouse Air Brake Technologies during the 4th quarter worth approximately $252,000. Greenleaf Trust boosted its holdings in shares of Westinghouse Air Brake Technologies by 2.9% in the fourth quarter. Greenleaf Trust now owns 3,344 shares of the transportation company’s stock valued at $634,000 after buying an additional 94 shares during the period. Pacer Advisors Inc. increased its position in shares of Westinghouse Air Brake Technologies by 88.8% during the fourth quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock worth $6,031,000 after acquiring an additional 14,959 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Westinghouse Air Brake Technologies by 2.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 20,459 shares of the transportation company’s stock valued at $3,879,000 after acquiring an additional 532 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Westinghouse Air Brake Technologies in the 3rd quarter worth $24,630,000. Institutional investors and hedge funds 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.