Westinghouse Air Brake Technologies Corp (NYSE:WAB) Receives $88.88 Consensus PT from Analysts

Westinghouse Air Brake Technologies Corp (NYSE:WAB) has earned an average recommendation of “Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $88.88.

Several research firms recently issued reports on WAB. ValuEngine upgraded shares of Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus set a $96.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Co set a $95.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Friday, April 26th. Cowen restated a “buy” rating and set a $92.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 30th. Finally, Goldman Sachs Group upgraded shares of Westinghouse Air Brake Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $84.00 to $89.00 in a research report on Wednesday, August 7th.

In other news, major shareholder Electric Co General sold 16,969,692 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.33, for a total value of $1,193,478,438.36. Following the completion of the transaction, the insider now owns 2,048,515 shares of the company’s stock, valued at $144,072,059.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Albert J. Neupaver acquired 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of $65.26 per share, with a total value of $652,600.00. Following the purchase, the director now owns 668,418 shares of the company’s stock, valued at approximately $43,620,958.68. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 21,000 shares of company stock valued at $1,349,650. Company insiders own 6.56% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Williams Jones & Associates LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 36.9% in the first quarter. Williams Jones & Associates LLC now owns 721,867 shares of the transportation company’s stock valued at $53,216,000 after purchasing an additional 194,724 shares during the period. Santori & Peters Inc. lifted its stake in Westinghouse Air Brake Technologies by 1.7% in the second quarter. Santori & Peters Inc. now owns 603,772 shares of the transportation company’s stock worth $43,326,000 after acquiring an additional 10,001 shares during the last quarter. United Capital Financial Advisers LLC lifted its stake in Westinghouse Air Brake Technologies by 35.6% in the second quarter. United Capital Financial Advisers LLC now owns 197,199 shares of the transportation company’s stock worth $14,151,000 after acquiring an additional 51,814 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in Westinghouse Air Brake Technologies by 13.0% in the first quarter. Commonwealth Bank of Australia now owns 79,597 shares of the transportation company’s stock worth $5,856,000 after acquiring an additional 9,136 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Westinghouse Air Brake Technologies in the first quarter worth approximately $5,492,000. 82.24% of the stock is owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies stock opened at $67.08 on Friday. Westinghouse Air Brake Technologies has a 12-month low of $61.95 and a 12-month high of $115.40. The firm has a market capitalization of $12.94 billion, a PE ratio of 17.61, a P/E/G ratio of 1.32 and a beta of 1.41. The stock’s 50-day moving average price is $71.94. The company has a current ratio of 1.32, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a net margin of 3.68% and a return on equity of 8.34%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.96 earnings per share. Westinghouse Air Brake Technologies’s revenue was up 101.2% compared to the same quarter last year. Research analysts anticipate that Westinghouse Air Brake Technologies will post 4.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 12.60%.

Westinghouse Air Brake Technologies Company Profile

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

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Analyst Recommendations for Westinghouse Air Brake Technologies (NYSE:WAB)

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