Westinghouse Air Brake Technologies Corp (NYSE:WAB) has earned a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $98.50.
A number of analysts recently commented on the company. Jefferies Financial Group assumed coverage on Westinghouse Air Brake Technologies in a report on Friday, February 22nd. They set a “hold” rating and a $80.00 price target on the stock. Stephens set a $92.00 target price on Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Tuesday, February 26th. ValuEngine cut Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Zacks Investment Research cut Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Finally, Seaport Global Securities restated a “buy” rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 28th.
Shares of WAB stock traded up $1.39 during trading hours on Thursday, reaching $73.87. The company had a trading volume of 2,102,018 shares, compared to its average volume of 2,259,545. Westinghouse Air Brake Technologies has a 12 month low of $65.09 and a 12 month high of $115.40. The company has a quick ratio of 2.19, a current ratio of 2.70 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $6.99 billion, a PE ratio of 19.39, a P/E/G ratio of 1.57 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, February 7th. Westinghouse Air Brake Technologies’s payout ratio is 12.60%.
In other Westinghouse Air Brake Technologies news, Director Linda S. Harty sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $75.68, for a total transaction of $227,040.00. Following the transaction, the director now owns 6,054 shares in the company, valued at approximately $458,166.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.49% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WAB. Capital International Investors purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at $317,827,000. Capital Guardian Trust Co. purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at $56,767,000. Capital Bank & Trust Co purchased a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at $55,641,000. Canada Pension Plan Investment Board grew its holdings in shares of Westinghouse Air Brake Technologies by 3,064,000.0% during the third quarter. Canada Pension Plan Investment Board now owns 306,410 shares of the transportation company’s stock valued at $32,136,000 after buying an additional 306,400 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Westinghouse Air Brake Technologies by 43.8% during the fourth quarter. Rhumbline Advisers now owns 224,625 shares of the transportation company’s stock valued at $15,780,000 after buying an additional 68,390 shares during the last quarter. 99.07% of the stock is currently owned by hedge funds and other institutional investors.
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. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.
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