Zacks Investment Research upgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a sell rating to a hold rating in a research report released on Friday, December 29th.
According to Zacks, “Wabtec Corporation is one of North America’s largest provider of value-added, technology-based products and services for freight rail, passenger transit and select industrial markets worldwide. Through its subsidiaries, the company manufactures a broad range of products for end markets such as locomotives, freight cars, passenger transit vehicles and power generation equipment, for both original equipment and aftermarket applications. Wabtec also builds new locomotives up to 5,400 horsepower, and provides aftermarket maintenance and services for locomotives and passenger transit vehicles. Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris. “
A number of other analysts have also issued reports on WAB. Cowen began coverage on Westinghouse Air Brake Technologies in a research report on Wednesday, December 13th. They issued an outperform rating and a $90.00 target price on the stock. B. Riley reissued a neutral rating on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, November 1st. Buckingham Research cut their target price on Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a hold rating and set a $75.00 price objective (up previously from $74.00) on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, October 25th. Finally, FBR & Co set a $85.00 price objective on Westinghouse Air Brake Technologies and gave the stock a hold rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $87.44.
Shares of Westinghouse Air Brake Technologies (NYSE WAB) opened at $84.20 on Friday. Westinghouse Air Brake Technologies has a 52 week low of $69.20 and a 52 week high of $93.81. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $8,080.00, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08.
Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The business had revenue of $957.93 million for the quarter, compared to analysts’ expectations of $947.18 million. During the same period in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. equities analysts anticipate that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current year.
In related news, VP David L. Deninno sold 1,917 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $76.10, for a total value of $145,883.70. Following the completion of the sale, the vice president now owns 56,131 shares in the company, valued at $4,271,569.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Brooks sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $77.66, for a total transaction of $271,810.00. Following the completion of the sale, the director now owns 84,221 shares of the company’s stock, valued at approximately $6,540,602.86. The disclosure for this sale can be found here. Corporate insiders own 11.69% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC lifted its position in Westinghouse Air Brake Technologies by 49.4% in the third quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock valued at $181,000 after purchasing an additional 790 shares during the period. Windward Capital Management Co. CA acquired a new stake in Westinghouse Air Brake Technologies in the fourth quarter valued at about $219,000. Tredje AP fonden lifted its position in Westinghouse Air Brake Technologies by 15.7% in the second quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock valued at $249,000 after purchasing an additional 370 shares during the period. Kingfisher Capital LLC lifted its position in Westinghouse Air Brake Technologies by 3.0% in the second quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock valued at $1,243,000 after purchasing an additional 392 shares during the period. Finally, Eaton Vance Management lifted its position in Westinghouse Air Brake Technologies by 16.6% in the second quarter. Eaton Vance Management now owns 14,082 shares of the transportation company’s stock valued at $1,289,000 after purchasing an additional 2,000 shares during the period.
Westinghouse Air Brake Technologies Company Profile
Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.