Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 52-Week High – What’s Next?

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $192.90 and last traded at $192.83, with a volume of 631236 shares trading hands. The stock had previously closed at $188.80.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WAB shares. Stephens increased their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Bank of America raised their price target on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group upped their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Susquehanna boosted their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.80.

Westinghouse Air Brake Technologies Price Performance

The company’s fifty day moving average is $180.33 and its two-hundred day moving average is $168.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. The firm has a market cap of $34.16 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.70 earnings per share. Equities research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.58 EPS for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 13.33%.

Insider Activity

In other news, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the sale, the chief technology officer now directly owns 22,411 shares in the company, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP David L. Deninno sold 875 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total transaction of $165,112.50. Following the sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at approximately $10,444,922.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Eric Gebhardt sold 7,422 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the sale, the chief technology officer now owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,984 shares of company stock worth $11,200,586. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. increased its stake in shares of Westinghouse Air Brake Technologies by 55.0% in the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Bridges Investment Management Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 3.4% in the third quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company’s stock valued at $428,000 after acquiring an additional 77 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after purchasing an additional 118 shares in the last quarter. UMB Bank n.a. lifted its position in Westinghouse Air Brake Technologies by 3.4% in the second quarter. UMB Bank n.a. now owns 4,701 shares of the transportation company’s stock worth $743,000 after purchasing an additional 156 shares during the period. Finally, Eastern Bank bought a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.