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

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $207.70 and last traded at $207.03, with a volume of 854088 shares traded. The stock had previously closed at $205.65.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Susquehanna increased their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday, October 21st. KeyCorp raised 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 report on Wednesday, November 13th. Stephens upped their target price on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their price objective on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.50.

Westinghouse Air Brake Technologies Stock Down 0.0 %

The stock has a market cap of $35.91 billion, a P/E ratio of 34.82, a price-to-earnings-growth 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 stock’s 50-day moving average is $197.44 and its 200-day moving average is $182.05.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the company earned $1.70 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Albert J. Neupaver sold 35,722 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the sale, the director now directly owns 614,447 shares of the company’s stock, valued at $115,946,148.90. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Deninno sold 875 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $165,112.50. Following the completion of the transaction, the vice president now owns 55,352 shares of the company’s stock, valued at $10,444,922.40. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,393 shares of company stock worth $7,464,243. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of large investors have recently made changes to their positions in WAB. Erste Asset Management GmbH acquired a new position in shares of Westinghouse Air Brake Technologies in the 3rd quarter valued at about $61,474,000. Lord Abbett & CO. LLC acquired a new position in Westinghouse Air Brake Technologies in the 3rd quarter valued at approximately $24,630,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $7,128,000. Pacer Advisors Inc. grew its holdings in shares of Westinghouse Air Brake Technologies by 88.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock valued at $6,031,000 after acquiring an additional 14,959 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Westinghouse Air Brake Technologies by 5.2% in the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after acquiring an additional 13,683 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.