Westinghouse Air Brake Technologies (NYSE:WAB) PT Raised to $83.00 at Buckingham Research

Westinghouse Air Brake Technologies (NYSE:WAB) had its target price hoisted by Buckingham Research from $81.00 to $83.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on WAB. Citigroup assumed coverage on shares of Westinghouse Air Brake Technologies in a report on Wednesday, July 10th. They set a neutral rating and a $80.00 target price on the stock. Cowen reiterated a buy rating and set a $92.00 target price on shares of Westinghouse Air Brake Technologies in a report on Tuesday, July 30th. Wellington Shields cut shares of Westinghouse Air Brake Technologies from an accumulate rating to a hold rating in a report on Thursday, July 11th. Goldman Sachs Group assumed coverage on shares of Westinghouse Air Brake Technologies in a report on Wednesday, July 10th. They set a neutral rating on the stock. Finally, Wells Fargo & Co set a $95.00 target price on shares of Westinghouse Air Brake Technologies and gave the stock a buy rating in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $87.63.

Westinghouse Air Brake Technologies stock traded down $0.62 during midday trading on Wednesday, hitting $75.34. 1,558,306 shares of the company’s stock were exchanged, compared to its average volume of 1,397,257. The company has a current ratio of 1.32, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Westinghouse Air Brake Technologies has a 12 month low of $61.95 and a 12 month high of $115.40. The business’s 50-day moving average price is $71.65. The firm has a market cap of $12.37 billion, a P/E ratio of 19.77, a PEG ratio of 1.47 and a beta of 1.41.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s quarterly revenue was up 101.2% on a year-over-year basis. As a group, sell-side analysts expect that Westinghouse Air Brake Technologies will post 4.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 12.60%.

In other news, Director William E. Kassling purchased 8,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $62.94 per share, for a total transaction of $503,520.00. Following the acquisition, the director now owns 69,730 shares of the company’s stock, valued at $4,388,806.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Albert J. Neupaver purchased 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $65.26 per share, for a total transaction of $652,600.00. Following the completion of the acquisition, the director now directly owns 668,418 shares in the company, valued at approximately $43,620,958.68. The disclosure for this purchase can be found here. Insiders bought a total of 21,000 shares of company stock worth $1,349,650 over the last 90 days. Company insiders own 6.56% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Coastal Capital Group Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the 2nd quarter valued at approximately $25,000. YorkBridge Wealth Partners LLC raised its position in shares of Westinghouse Air Brake Technologies by 72.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 165 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $34,000. RPG Investment Advisory LLC raised its position in shares of Westinghouse Air Brake Technologies by 545.0% in the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 545 shares during the last quarter. Finally, Iat Reinsurance Co. LTD. purchased a new position in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.53% of the company’s stock.

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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