KeyCorp Raises Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $185.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target increased by KeyCorp from $155.00 to $185.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. KeyCorp’s target price suggests a potential upside of 13.54% from the stock’s current price.

A number of other equities research analysts also recently issued reports on WAB. Stephens increased their price objective on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America upped their price objective on 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. Redburn Atlantic lowered Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research note on Thursday, February 15th. Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an “overweight” rating and a $137.00 price target for the company. Finally, Susquehanna raised their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $156.18.

Westinghouse Air Brake Technologies Stock Down 0.3 %

WAB traded down $0.44 during midday trading on Thursday, reaching $162.94. 814,035 shares of the company were exchanged, compared to its average volume of 1,047,089. The company has a market cap of $28.81 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. The company’s fifty day moving average price is $142.63 and its 200 day moving average price is $127.64. 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 released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the company posted $1.28 earnings per share. Westinghouse Air Brake Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, analysts expect that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Insider Transactions at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at $17,298,931.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Pascal Schweitzer sold 6,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $140.61, for a total value of $843,660.00. Following the sale, the insider now directly owns 16,633 shares in the company, valued at $2,338,766.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at $17,298,931.78. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WAB. V Square Quantitative Management LLC acquired a new position in shares of Westinghouse Air Brake Technologies in the third quarter worth $204,000. First Hawaiian Bank grew its position in shares of Westinghouse Air Brake Technologies by 49.1% in the fourth quarter. First Hawaiian Bank now owns 3,542 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 1,167 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $498,000. Handelsinvest Investeringsforvaltning purchased a new position in Westinghouse Air Brake Technologies during the fourth quarter worth approximately $1,030,000. Finally, iA Global Asset Management Inc. purchased a new position in Westinghouse Air Brake Technologies during the third quarter worth approximately $1,915,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.