Westinghouse Air Brake Technologies (NYSE:WAB) Hits New 1-Year Low at $61.58

Shares of Westinghouse Air Brake Technologies Corp (NYSE:WAB) hit a new 52-week low during trading on Thursday . The company traded as low as $61.58 and last traded at $61.72, with a volume of 120506 shares changing hands. The stock had previously closed at $64.25.

WAB has been the topic of a number of research reports. Stifel Nicolaus set a $96.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a report on Friday, April 26th. Buckingham Research boosted their target price on shares of Westinghouse Air Brake Technologies from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wellington Shields cut shares of Westinghouse Air Brake Technologies from an “accumulate” rating to a “hold” rating in a report on Thursday, July 11th. Goldman Sachs Group upgraded shares of Westinghouse Air Brake Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $84.00 to $89.00 in a report on Wednesday, August 7th. Finally, ValuEngine upgraded shares of Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $87.78.

The firm has a 50-day moving average price of $71.72 and a 200-day moving average price of $71.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.32. The stock has a market cap of $12.83 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. Westinghouse Air Brake Technologies had a return on equity of 8.34% and a net margin of 3.68%. Westinghouse Air Brake Technologies’s quarterly revenue was up 101.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, sell-side analysts anticipate that Westinghouse Air Brake Technologies Corp will post 4.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 12.60%.

In related news, Director Albert J. Neupaver purchased 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $65.26 per share, with a total value of $652,600.00. Following the transaction, the director now directly owns 668,418 shares in the company, valued at $43,620,958.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Electric Co General sold 16,969,692 shares of Westinghouse Air Brake Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.33, for a total value of $1,193,478,438.36. Following the completion of the transaction, the insider now directly owns 2,048,515 shares of the company’s stock, valued at approximately $144,072,059.95. The disclosure for this sale can be found here. In the last ninety days, insiders bought 21,000 shares of company stock valued at $1,349,650. 6.56% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. YorkBridge Wealth Partners LLC raised its position in Westinghouse Air Brake Technologies by 72.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock worth $28,000 after buying an additional 165 shares during the last quarter. Captrust Financial Advisors raised its position in Westinghouse Air Brake Technologies by 47.5% in the 2nd quarter. Captrust Financial Advisors now owns 950 shares of the transportation company’s stock worth $68,000 after buying an additional 306 shares during the last quarter. Coastal Capital Group Inc. purchased a new position in Westinghouse Air Brake Technologies in the 2nd quarter worth about $25,000. AdvisorNet Financial Inc raised its position in Westinghouse Air Brake Technologies by 32.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,464 shares of the transportation company’s stock worth $105,000 after buying an additional 359 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Westinghouse Air Brake Technologies in the 1st quarter worth about $34,000. 82.24% of the stock is owned by institutional investors and hedge funds.

About Westinghouse Air Brake Technologies (NYSE:WAB)

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

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