Westinghouse Air Brake Technologies (NYSE:WAB) Reaches New 1-Year High – Here’s What Happened

Westinghouse Air Brake Technologies Co. (NYSE:WAB) hit a new 52-week high during trading on Thursday . The company traded as high as $210.30 and last traded at $210.72, with a volume of 67936 shares. The stock had previously closed at $206.81.

Analysts Set New Price Targets

Several equities analysts have weighed in on WAB shares. Susquehanna lifted their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. KeyCorp increased their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Bank of America increased their price objective on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.50.

Westinghouse Air Brake Technologies Stock Down 1.0 %

The stock has a market cap of $35.70 billion, a P/E ratio of 34.61, a P/E/G ratio of 1.33 and a beta of 1.27. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $198.46 and its 200 day moving average is $183.63.

Insiders Place Their Bets

In other news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $199.71, for a total transaction of $558,389.16. Following the transaction, the chief accounting officer now owns 5,683 shares in the company, valued at approximately $1,134,951.93. The trade was a 32.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors have recently added to or reduced their stakes in WAB. Pinnacle Bancorp Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. Eastern Bank bought a new position in Westinghouse Air Brake Technologies during the third quarter worth about $33,000. Garde Capital Inc. acquired a new stake in Westinghouse Air Brake Technologies during the third quarter valued at approximately $110,000. Camden National Bank bought a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $222,000. Finally, Longboard Asset Management LP acquired a new position in shares of Westinghouse Air Brake Technologies in the 4th quarter worth approximately $252,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.