Other equities research analysts have also recently issued reports about the company. Stephens lifted their target price on Westinghouse Air Brake Technologies from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Buckingham Research reduced their price target on Westinghouse Air Brake Technologies from $83.00 to $76.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Bank of America initiated coverage on Westinghouse Air Brake Technologies in a research report on Wednesday, October 16th. They issued an “underperform” rating and a $64.00 price target on the stock. Cowen restated a “buy” rating and issued a $92.00 price target on shares of Westinghouse Air Brake Technologies in a research report on Thursday, October 31st. Finally, Jefferies Financial Group reduced their price target on Westinghouse Air Brake Technologies from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $83.58.
NYSE WAB opened at $76.11 on Tuesday. The stock has a fifty day moving average of $77.88 and a 200-day moving average of $73.50. The stock has a market capitalization of $14.78 billion, a P/E ratio of 56.80, a price-to-earnings-growth ratio of 1.59 and a beta of 1.45. Westinghouse Air Brake Technologies has a 52 week low of $61.00 and a 52 week high of $81.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.77 and a current ratio of 1.38.
Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Thursday, October 31st. The transportation company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Westinghouse Air Brake Technologies had a return on equity of 7.89% and a net margin of 3.24%. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. Equities research analysts forecast that Westinghouse Air Brake Technologies will post 4.17 earnings per share for the current fiscal year.
In other news, Director Michael W. D. Howell sold 717 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $79.30, for a total value of $56,858.10. Following the transaction, the director now directly owns 7,180 shares in the company, valued at approximately $569,374. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.56% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. CNB Bank lifted its holdings in Westinghouse Air Brake Technologies by 655.8% during the fourth quarter. CNB Bank now owns 393 shares of the transportation company’s stock worth $31,000 after acquiring an additional 341 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Westinghouse Air Brake Technologies by 503.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 827 shares of the transportation company’s stock worth $64,000 after acquiring an additional 690 shares in the last quarter. Massey Quick Simon & CO. LLC lifted its holdings in Westinghouse Air Brake Technologies by 55,450.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,111 shares of the transportation company’s stock worth $80,000 after acquiring an additional 1,109 shares in the last quarter. Resources Management Corp CT ADV bought a new position in Westinghouse Air Brake Technologies during the third quarter worth about $99,000. Finally, Cerebellum GP LLC bought a new position in Westinghouse Air Brake Technologies during the fourth quarter worth about $401,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.
About Westinghouse Air Brake Technologies
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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