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

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price raised by TD Cowen from $130.00 to $147.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential downside of 10.56% from the stock’s previous close.

Several other research analysts also recently commented on the company. Susquehanna boosted their target price on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Thursday, February 15th. Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $115.00 to $150.00 in a research note on Thursday, January 11th. KeyCorp upped their price target on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Stephens upped their target price on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.18.

Westinghouse Air Brake Technologies Price Performance

Westinghouse Air Brake Technologies stock opened at $164.36 on Thursday. The business has a 50 day simple moving average of $143.78 and a 200 day simple moving average of $128.14. 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 company has a market capitalization of $29.06 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. On average, sell-side analysts forecast that Westinghouse Air Brake Technologies will post 7.2 EPS for the current fiscal year.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CEO Rafael Santana sold 40,219 shares of the business’s 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 transaction, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the transaction, the chief executive officer now owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction on 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 directly owns 23,065 shares in the company, valued at approximately $3,132,227. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $204,000. First Hawaiian Bank increased its holdings in Westinghouse Air Brake Technologies by 49.1% during the 4th quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock worth $449,000 after purchasing an additional 1,167 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Westinghouse Air Brake Technologies during the 3rd quarter worth about $498,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at about $1,030,000. Finally, iA Global Asset Management Inc. bought a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at about $1,915,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.