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

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price upped by TD Cowen from $130.00 to $147.00 in a report published on Thursday morning, Marketbeat.com reports. They currently have a hold rating on the transportation company’s stock.

Several other research firms have also recently weighed in on WAB. Wells Fargo & Company boosted their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an overweight rating and a $137.00 target price on the stock. Susquehanna increased their target price on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a positive rating in a report on Thursday, February 15th. The Goldman Sachs Group increased their target price on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and increased their target price for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies has an average rating of Moderate Buy and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Stock Up 0.7 %

WAB stock opened at $164.36 on Thursday. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49. The business has a fifty day moving average price of $144.38 and a 200-day moving average price of $128.89. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63. The stock has a market capitalization of $28.99 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.74 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. Equities analysts forecast that Westinghouse Air Brake Technologies will post 7.34 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. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 15.63%.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares in the company, valued at $3,132,227. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the completion of the sale, the chief executive officer now owns 123,019 shares in the company, valued at $17,298,931.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Hehir sold 5,470 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 63,964 shares of company stock worth $8,924,584 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Institutional investors have recently made changes to their positions in the business. First Hawaiian Bank boosted its stake in Westinghouse Air Brake Technologies by 4.4% during the first quarter. First Hawaiian Bank now owns 3,699 shares of the transportation company’s stock valued at $539,000 after buying an additional 157 shares during the last quarter. Watchman Group Inc. boosted its stake in Westinghouse Air Brake Technologies by 0.9% during the third quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock valued at $3,073,000 after buying an additional 269 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Westinghouse Air Brake Technologies by 36.8% during the first quarter. V Square Quantitative Management LLC now owns 2,624 shares of the transportation company’s stock valued at $382,000 after buying an additional 706 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the third quarter valued at approximately $498,000. Finally, BNP Paribas Financial Markets boosted its stake 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 buying an additional 5,859 shares during the last quarter. 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.