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

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective boosted by analysts at TD Cowen from $130.00 to $147.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price indicates a potential downside of 10.56% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Stephens lifted their price target on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an “overweight” rating in a report 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 price objective for the company. Bank of America lifted their target price on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company upped their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $156.18.

Westinghouse Air Brake Technologies Stock Performance

NYSE WAB opened at $164.36 on Thursday. The firm’s fifty day moving average price is $143.78 and its two-hundred day moving average price is $128.14. The stock has a market cap of $29.06 billion, a PE ratio of 32.10, a PEG ratio of 1.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.52. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data 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 analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. Westinghouse Air Brake Technologies’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. On average, equities analysts expect that Westinghouse Air Brake Technologies will post 7.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now owns 123,019 shares in the company, valued at $17,298,931.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Westinghouse Air Brake Technologies news, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.61, for a total value of $843,660.00. Following the completion of the sale, the insider now owns 16,633 shares of the company’s stock, valued at $2,338,766.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 directly owns 123,019 shares in the company, valued at $17,298,931.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,964 shares of company stock worth $8,924,584. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Westinghouse Air Brake Technologies

Hedge funds have recently bought and sold shares of the business. Applied Finance Capital Management LLC increased its position in shares of Westinghouse Air Brake Technologies by 5.7% during the third quarter. Applied Finance Capital Management LLC now owns 145,099 shares of the transportation company’s stock worth $15,420,000 after acquiring an additional 7,785 shares in the last quarter. Watchman Group Inc. increased its holdings in Westinghouse Air Brake Technologies by 0.9% during the 3rd quarter. Watchman Group Inc. now owns 28,921 shares of the transportation company’s stock worth $3,073,000 after purchasing an additional 269 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $204,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth approximately $498,000. Finally, iA Global Asset Management Inc. bought a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $1,915,000. 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.