Westinghouse Air Brake Technologies (NYSE:WAB) Sets New 52-Week High - Time to Buy?

Westinghouse Air Brake Technologies Co. (NYSE:WAB - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $192.90 and last traded at $192.83, with a volume of 631236 shares changing hands. The stock had previously closed at $188.80.

Analyst Ratings Changes

A number of research analysts have weighed in on WAB shares. Susquehanna raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a "positive" rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their price objective on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.80.

Westinghouse Air Brake Technologies Stock Performance

The company's fifty day moving average price is $179.07 and its 200 day moving average price is $167.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The company has a market cap of $33.01 billion, a PE ratio of 31.47, a P/E/G ratio of 1.46 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company posted $1.70 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Westinghouse Air Brake Technologies Co. will post 7.58 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Westinghouse Air Brake Technologies's dividend payout ratio (DPR) is presently 13.33%.

Insider Buying and Selling

In related news, Director Albert J. Neupaver sold 35,722 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total transaction of $6,740,741.40. Following the completion of the sale, the director now owns 614,447 shares in the company, valued at approximately $115,946,148.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP David L. Deninno sold 875 shares of Westinghouse Air Brake Technologies stock in a transaction dated 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 in the company, valued at $10,444,922.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Albert J. Neupaver sold 35,722 shares of Westinghouse Air Brake Technologies stock in a transaction dated 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 completion of the transaction, the director now owns 614,447 shares of the company's stock, valued at $115,946,148.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,989 shares of company stock worth $11,384,624. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Several large investors have recently modified their holdings of WAB. BNP Paribas Financial Markets increased its stake in shares of Westinghouse Air Brake Technologies by 107.8% in the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company's stock worth $24,802,000 after purchasing an additional 88,325 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company's stock valued at $7,765,000 after acquiring an additional 20,900 shares during the period. Plato Investment Management Ltd boosted its position in shares of Westinghouse Air Brake Technologies by 59,168.4% in the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company's stock valued at $1,641,000 after acquiring an additional 11,242 shares during the period. Border to Coast Pensions Partnership Ltd boosted its position in shares of Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company's stock valued at $36,431,000 after acquiring an additional 8,575 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Westinghouse Air Brake Technologies by 2.1% in the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company's stock valued at $53,023,000 after acquiring an additional 7,012 shares during the period. Hedge funds and other institutional investors 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.

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