Westinghouse Air Brake Technologies (WAB) Given a $105.00 Price Target at Wells Fargo & Co

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Wells Fargo & Co set a $105.00 price target on Westinghouse Air Brake Technologies (NYSE:WAB) in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the transportation company’s stock.

WAB has been the subject of several other reports. B. Riley set a $95.00 target price on Westinghouse Air Brake Technologies and gave the company a hold rating in a research note on Tuesday, July 24th. Stifel Nicolaus upped their target price on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, July 25th. Cowen reiterated a buy rating and issued a $125.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Tuesday, July 24th. Zacks Investment Research lowered Westinghouse Air Brake Technologies from a buy rating to a hold rating in a research note on Monday, October 22nd. Finally, Wellington Shields upgraded Westinghouse Air Brake Technologies from a hold rating to a gradually accumulate rating in a research note on Monday, October 15th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $106.73.

Shares of NYSE WAB traded up $2.84 during trading on Wednesday, reaching $84.86. The company had a trading volume of 80,155 shares, compared to its average volume of 1,058,298. Westinghouse Air Brake Technologies has a twelve month low of $69.75 and a twelve month high of $115.40. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The company has a quick ratio of 0.99, a current ratio of 2.84 and a debt-to-equity ratio of 1.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Tuesday, October 30th. The transportation company reported $0.95 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.95. Westinghouse Air Brake Technologies had a return on equity of 12.43% and a net margin of 7.16%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Westinghouse Air Brake Technologies will post 3.85 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 15th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 13.99%.

In other Westinghouse Air Brake Technologies news, Director Robert J. Brooks sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $110.56, for a total transaction of $2,211,200.00. Following the completion of the sale, the director now owns 19,200 shares of the company’s stock, valued at $2,122,752. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William E. Kassling sold 8,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $109.27, for a total value of $874,160.00. Following the completion of the sale, the director now directly owns 81,444 shares of the company’s stock, valued at approximately $8,899,385.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock valued at $5,562,320. 11.49% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Windward Capital Management Co. CA boosted its position in shares of Westinghouse Air Brake Technologies by 57.8% in the third quarter. Windward Capital Management Co. CA now owns 4,167 shares of the transportation company’s stock worth $437,000 after buying an additional 1,526 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth about $150,000. Barometer Capital Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth about $5,842,000. MetLife Investment Advisors LLC boosted its position in shares of Westinghouse Air Brake Technologies by 0.9% in the second quarter. MetLife Investment Advisors LLC now owns 53,862 shares of the transportation company’s stock worth $5,310,000 after buying an additional 492 shares during the period. Finally, Sterling Capital Management LLC boosted its position in shares of Westinghouse Air Brake Technologies by 18.8% in the second quarter. Sterling Capital Management LLC now owns 47,706 shares of the transportation company’s stock worth $4,703,000 after buying an additional 7,553 shares during the period.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as 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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Analyst Recommendations for Westinghouse Air Brake Technologies (NYSE:WAB)

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