Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) – Research analysts at KeyCorp increased their Q2 2023 earnings estimates for shares of Westinghouse Air Brake Technologies in a note issued to investors on Wednesday, April 26th. KeyCorp analyst S. Barger now expects that the transportation company will earn $1.31 per share for the quarter, up from their prior estimate of $1.28. KeyCorp has an “Overweight” rating and a $112.00 price objective on the stock. The consensus estimate for Westinghouse Air Brake Technologies’ current full-year earnings is $5.39 per share. KeyCorp also issued estimates for Westinghouse Air Brake Technologies’ FY2023 earnings at $5.38 EPS.
Several other equity research analysts have also issued reports on the stock. StockNews.com initiated coverage on shares of Westinghouse Air Brake Technologies in a research note on Thursday, March 16th. They set a “buy” rating for the company. Bank of America upgraded shares of Westinghouse Air Brake Technologies from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 17th. Raymond James raised their price target on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the stock an “outperforming” rating in a research note on Thursday, February 16th. Morgan Stanley raised their price target on shares of Westinghouse Air Brake Technologies from $107.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 20th. Finally, Stephens raised their price target on shares of Westinghouse Air Brake Technologies from $110.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, February 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Westinghouse Air Brake Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.
Westinghouse Air Brake Technologies Trading Down 0.1 %
Shares of WAB stock opened at $97.67 on Friday. Westinghouse Air Brake Technologies has a 52-week low of $78.26 and a 52-week high of $107.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.08. The company has a 50-day simple moving average of $100.23 and a two-hundred day simple moving average of $99.46. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.56 and a beta of 1.48.
Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.09. Westinghouse Air Brake Technologies had a net margin of 7.57% and a return on equity of 9.09%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm posted $1.13 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year.
Westinghouse Air Brake Technologies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. This is a positive change from Westinghouse Air Brake Technologies’ previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 23rd. Westinghouse Air Brake Technologies’ payout ratio is currently 19.71%.
Insider Activity at Westinghouse Air Brake Technologies
In related news, insider Michael Fetsko sold 7,676 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $104.63, for a total value of $803,139.88. Following the completion of the transaction, the insider now directly owns 32,244 shares in the company, valued at approximately $3,373,689.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. In other Westinghouse Air Brake Technologies news, insider Michael Fetsko sold 7,676 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $104.63, for a total value of $803,139.88. Following the completion of the transaction, the insider now directly owns 32,244 shares of the company’s stock, valued at approximately $3,373,689.72. The sale was disclosed in a legal filing with the SEC, which can be accessed via the SEC website. Also, Director Brian Hehir sold 2,881 shares of the firm’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $104.73, for a total transaction of $301,727.13. Following the completion of the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at $2,919,662.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,834 shares of company stock worth $9,306,731. Corporate insiders own 1.22% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of WAB. Gibson Wealth Advisors LLC boosted its holdings in Westinghouse Air Brake Technologies by 6,350.0% in the 4th quarter. Gibson Wealth Advisors LLC now owns 258 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 254 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter worth $30,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Westinghouse Air Brake Technologies by 48.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the transportation company’s stock worth $35,000 after acquiring an additional 114 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the 1st quarter worth $366,000. Finally, Moody’s National Bank Trust Division lifted its holdings in shares of Westinghouse Air Brake Technologies by 4.5% during the 1st quarter. Moody’s National Bank Trust Division now owns 5,703 shares of the transportation company’s stock worth $576,000 after acquiring an additional 243 shares during the last quarter. 89.47% of the stock is owned by institutional investors.
About Westinghouse Air Brake Technologies
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Westinghouse Air Brake Technologies Corp. engages in the provision of equipment, systems, and value-added services for the rail industry. It operates through the Freight and Transit segments. The Freight segment builds new locomotives, manufactures and services components for new and existing freight cars and locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, and signal design and engineering services, and provides related heat exchange and cooling systems.
Further Reading
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