Westinghouse Air Brake Technologies (NYSE:WAB) Downgraded by ValuEngine

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ValuEngine lowered shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a hold rating to a sell rating in a research note issued to investors on Friday, ValuEngine reports.

Several other brokerages have also issued reports on WAB. Buckingham Research upped their target price on Westinghouse Air Brake Technologies from $81.00 to $83.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Wells Fargo & Co set a $95.00 price objective on Westinghouse Air Brake Technologies and gave the company a buy rating in a research report on Friday, April 26th. Cowen reiterated 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. Stifel Nicolaus set a $96.00 price objective on Westinghouse Air Brake Technologies and gave the company a buy rating in a research report on Friday, April 26th. Finally, Goldman Sachs Group upgraded Westinghouse Air Brake Technologies from a neutral rating to a buy rating and boosted their price objective for the company from $84.00 to $89.00 in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $87.78.

Shares of WAB opened at $66.62 on Friday. The firm has a market cap of $11.72 billion, a P/E ratio of 17.49, a P/E/G ratio of 1.20 and a beta of 1.41. The stock has a 50 day simple moving average of $71.66 and a two-hundred day simple moving average of $71.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.32 and a quick ratio of 0.73. Westinghouse Air Brake Technologies has a 1 year low of $61.00 and a 1 year high of $115.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. The business 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 revenue for the quarter was up 101.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that Westinghouse Air Brake Technologies will post 4.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a $0.12 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.72%. Westinghouse Air Brake Technologies’s payout ratio is currently 12.60%.

In other Westinghouse Air Brake Technologies news, Director William E. Kassling bought 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $62.94 per share, for a total transaction of $503,520.00. Following the completion of the acquisition, the director now directly owns 69,730 shares in the company, valued at $4,388,806.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David L. Deninno bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $64.51 per share, with a total value of $193,530.00. Following the acquisition, the vice president now owns 87,066 shares of the company’s stock, valued at $5,616,627.66. The disclosure for this purchase can be found here. Insiders acquired 21,000 shares of company stock valued at $1,349,650 in the last quarter. Corporate insiders own 6.56% of the company’s stock.

Several institutional investors have recently made changes to their positions in WAB. Williams Jones & Associates LLC raised its holdings in shares of Westinghouse Air Brake Technologies by 36.9% during the first quarter. Williams Jones & Associates LLC now owns 721,867 shares of the transportation company’s stock valued at $53,216,000 after acquiring an additional 194,724 shares in the last quarter. Capital Bank & Trust Co raised its holdings in shares of Westinghouse Air Brake Technologies by 14.5% during the second 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 in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Westinghouse Air Brake Technologies during the first quarter valued at approximately $5,492,000. Thompson Investment Management Inc. raised its holdings in shares of Westinghouse Air Brake Technologies by 1,037.2% during the second 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 in the last quarter. Finally, United Capital Financial Advisers LLC raised its holdings in shares of Westinghouse Air Brake Technologies by 35.6% during the second 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 in the last quarter. Institutional investors own 82.24% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

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

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