Buckingham Research Cuts Westinghouse Air Brake Technologies (NYSE:WAB) Price Target to $76.00

Share on StockTwits

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective cut by Buckingham Research from $83.00 to $76.00 in a report published on Friday morning, AnalystRatings.com reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research analysts also recently issued reports on WAB. Bank of America initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, October 16th. They issued an underperform rating and a $64.00 price objective on the stock. Wellington Shields downgraded shares of Westinghouse Air Brake Technologies from an accumulate rating to a hold rating in a research report on Thursday, July 11th. Morgan Stanley initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, September 10th. They issued an equal weight rating and a $73.00 price objective on the stock. Cowen reaffirmed a buy rating and issued a $92.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 30th. Finally, Goldman Sachs Group raised shares of Westinghouse Air Brake Technologies from a neutral rating to a buy rating and lifted their price objective for the stock from $84.00 to $89.00 in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Westinghouse Air Brake Technologies has an average rating of Hold and an average target price of $81.91.

NYSE:WAB opened at $69.42 on Friday. Westinghouse Air Brake Technologies has a one year low of $61.00 and a one year high of $98.80. 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 firm has a market cap of $13.11 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.50 and a beta of 1.45. The firm has a 50-day simple moving average of $69.78 and a 200-day simple moving average of $70.58.

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

In other news, major shareholder Electric Co General sold 16,969,692 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.33, for a total value of $1,193,478,438.36. Following the transaction, the insider now owns 2,048,515 shares of the company’s stock, valued at approximately $144,072,059.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.56% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Capital Bank & Trust Co boosted its holdings in shares of Westinghouse Air Brake Technologies by 14.5% in the 2nd quarter. Capital Bank & Trust Co now owns 956,722 shares of the transportation company’s stock valued at $68,548,000 after acquiring an additional 121,236 shares during the last quarter. Santori & Peters Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 1.7% in the 2nd quarter. Santori & Peters Inc. now owns 603,772 shares of the transportation company’s stock valued at $43,326,000 after acquiring an additional 10,001 shares during the last quarter. United Capital Financial Advisers LLC boosted its holdings in shares of Westinghouse Air Brake Technologies by 35.6% in the 2nd quarter. United Capital Financial Advisers LLC now owns 197,199 shares of the transportation company’s stock valued at $14,151,000 after acquiring an additional 51,814 shares during the last quarter. Thompson Investment Management Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 1,037.2% in the 2nd quarter. Thompson Investment Management Inc. now owns 58,507 shares of the transportation company’s stock valued at $4,198,000 after acquiring an additional 53,362 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Westinghouse Air Brake Technologies by 52.7% in the 2nd quarter. Assetmark Inc. now owns 58,267 shares of the transportation company’s stock valued at $4,181,000 after acquiring an additional 20,118 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors.

About Westinghouse Air Brake Technologies

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.

Featured Article: What type of investment options does a Roth IRA provide?

Analyst Recommendations for Westinghouse Air Brake Technologies (NYSE:WAB)

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.



Latest News

Thar Token 24-Hour Volume Reaches $26.00
Thar Token 24-Hour Volume Reaches $26.00
FuzzBalls Trading Down 3.3% Over Last 7 Days
FuzzBalls Trading Down 3.3% Over Last 7 Days
Vaughan Nelson Investment Management L.P. Boosts Holdings in Citigroup Inc
Vaughan Nelson Investment Management L.P. Boosts Holdings in Citigroup Inc
Knight-Swift Transportation Holdings Inc  Shares Sold by Vaughan Nelson Investment Management L.P.
Knight-Swift Transportation Holdings Inc Shares Sold by Vaughan Nelson Investment Management L.P.
AT&T Inc.  Shares Sold by Vaughan Nelson Investment Management L.P.
AT&T Inc. Shares Sold by Vaughan Nelson Investment Management L.P.
Ecolab Inc.  Shares Acquired by Puzo Michael J
Ecolab Inc. Shares Acquired by Puzo Michael J


 
© 2006-2019 Zolmax.