Westinghouse Air Brake Technologies Corp (WAB) Receives $98.50 Average Target Price from Analysts
Westinghouse Air Brake Technologies Corp (NYSE:WAB) has been given an average recommendation of “Buy” by the fifteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $98.50.
WAB has been the topic of a number of recent analyst reports. Zacks Investment Research raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Saturday, January 5th. Seaport Global Securities reissued a “buy” rating on shares of Westinghouse Air Brake Technologies in a report on Monday, January 28th. Stephens set a $92.00 target price on Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a report on Tuesday, February 26th. Jefferies Financial Group initiated coverage on Westinghouse Air Brake Technologies in a report on Friday, February 22nd. They set a “hold” rating and a $80.00 target price on the stock. Finally, ValuEngine raised Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 4th.
Shares of WAB stock traded up $1.39 during trading on Thursday, reaching $73.87. 2,102,018 shares of the company’s stock were exchanged, compared to its average volume of 2,259,545. The company has a current ratio of 2.70, a quick ratio of 2.19 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 PEG ratio of 1.57 and a beta of 1.31. Westinghouse Air Brake Technologies has a twelve month low of $65.09 and a twelve month high of $115.40.
In other Westinghouse Air Brake Technologies news, Director Linda S. Harty sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $75.68, for a total value of $227,040.00. Following the transaction, the director now directly owns 6,054 shares of the company’s stock, valued at approximately $458,166.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors bought a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $317,827,000. Capital Guardian Trust Co. bought a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $56,767,000. Capital Bank & Trust Co bought a new stake in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at $55,641,000. Canada Pension Plan Investment Board lifted its position in shares of Westinghouse Air Brake Technologies by 32.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 407,310 shares of the transportation company’s stock valued at $28,611,000 after acquiring an additional 100,900 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Westinghouse Air Brake Technologies by 43.8% during the 4th quarter. Rhumbline Advisers now owns 224,625 shares of the transportation company’s stock valued at $15,780,000 after acquiring an additional 68,390 shares during the period. 99.07% of the stock is currently owned by hedge funds and other institutional investors.
About Westinghouse Air Brake Technologies
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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