TD Cowen Boosts Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $147.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price target lifted by investment analysts at TD Cowen from $130.00 to $147.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price points to a potential downside of 10.03% from the stock’s previous close.

Several other research firms have also weighed in on WAB. Redburn Atlantic lowered shares of 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 began coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an “overweight” rating and a $137.00 price objective on the stock. Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Bank of America boosted their price target on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $150.00 in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $148.45.

Westinghouse Air Brake Technologies Stock Up 10.0 %

NYSE:WAB opened at $163.38 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.63. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49. The firm’s 50 day simple moving average is $142.63 and its 200 day simple moving average is $127.64. The company has a market cap of $28.89 billion, a PE ratio of 36.15, a P/E/G ratio of 1.71 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.04). The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.48 billion. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. On average, research analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current year.

Insider Activity at Westinghouse Air Brake Technologies

In related news, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the sale, the director now directly owns 23,065 shares of the company’s stock, valued at $3,132,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP David L. Deninno sold 6,607 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the sale, the vice president now directly owns 65,535 shares of the company’s stock, valued at $8,887,201.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the sale, the director now directly owns 23,065 shares in the company, valued at $3,132,227. The disclosure for this sale can be found here. Insiders have sold 63,964 shares of company stock valued at $8,924,584 over the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Westinghouse Air Brake Technologies Company Profile

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.