Posted by admin on May 6th, 2022

Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 2,650,000 shares, a decrease of 18.2% from the March 31st total of 3,240,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.5% of the company’s stock are sold short.

Shares of WAB opened at $91.66 on Friday. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 1.70 and a beta of 1.51. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. Westinghouse Air Brake Technologies has a 12 month low of $76.30 and a 12 month high of $100.04. The company has a 50-day moving average price of $92.36 and a two-hundred day moving average price of $92.21.

Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The transportation company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Westinghouse Air Brake Technologies had a net margin of 7.51% and a return on equity of 8.27%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts expect that Westinghouse Air Brake Technologies will post 4.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 28th. Stockholders of record on Friday, February 25th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.12. Westinghouse Air Brake Technologies’s payout ratio is 18.93%.

In other news, CAO John A. Mastalerz, Jr. sold 5,012 shares of the firm’s stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $95.34, for a total value of $477,844.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Albert J. Neupaver sold 55,877 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $96.80, for a total value of $5,408,893.60. The disclosure for this sale can be found here. Insiders have sold 65,889 shares of company stock worth $6,363,538 over the last three months. Company insiders own 1.22% of the company’s stock.

Several large investors have recently bought and sold shares of WAB. Van ECK Associates Corp raised its stake in shares of Westinghouse Air Brake Technologies by 95.6% in the third quarter. Van ECK Associates Corp now owns 837 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 409 shares during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Westinghouse Air Brake Technologies by 4.3% in the third quarter. WASHINGTON TRUST Co now owns 138,519 shares of the transportation company’s stock valued at $11,942,000 after acquiring an additional 5,753 shares during the last quarter. Systematic Alpha Investments LLC acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at approximately $88,000. Forsta AP Fonden increased its holdings in shares of Westinghouse Air Brake Technologies by 93.7% in the third quarter. Forsta AP Fonden now owns 76,700 shares of the transportation company’s stock valued at $6,612,000 after purchasing an additional 37,100 shares in the last quarter. Finally, Perpetual Investment Management Ltd increased its holdings in shares of Westinghouse Air Brake Technologies by 26.9% in the third quarter. Perpetual Investment Management Ltd now owns 37,708 shares of the transportation company’s stock valued at $3,251,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors own 91.70% of the company’s stock.

WAB has been the topic of a number of recent research reports. StockNews.com raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, May 1st. Wolfe Research raised Westinghouse Air Brake Technologies from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 28th. Stephens lifted their target price on Westinghouse Air Brake Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, February 17th. Finally, Wells Fargo & Company lifted their target price on Westinghouse Air Brake Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, January 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $99.86.

About Westinghouse Air Brake Technologies (Get Rating)

Westinghouse Air Brake Technologies Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates through two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new commuter locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

Receive News & Ratings for Westinghouse Air Brake Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westinghouse Air Brake Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Analysts Expect The Hain Celestial Group, Inc. (NASDAQ:HAIN) to Announce $0.46 EPS

Starbucks (NASDAQ:SBUX) PT Lowered to $98.00 at MKM Partners