Westinghouse Air Brake Technologies Corporation’s (WAB) “Buy” Rating Reaffirmed at KeyCorp

KeyCorp reissued their buy rating on shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) in a research report report published on Sunday morning. The firm currently has a $100.00 price objective on the transportation company’s stock.

WAB has been the subject of a number of other research reports. Stifel Nicolaus lowered shares of Westinghouse Air Brake Technologies Corporation from a buy rating to a hold rating and set a $92.00 price target for the company. in a research note on Monday, July 17th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies Corporation from a hold rating to a sell rating in a research note on Wednesday, June 28th. BidaskClub lowered shares of Westinghouse Air Brake Technologies Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Berenberg Bank initiated coverage on shares of Westinghouse Air Brake Technologies Corporation in a research note on Thursday, September 7th. They issued a hold rating and a $81.00 price target for the company. Finally, FBR & Co restated a marketperform rating on shares of Westinghouse Air Brake Technologies Corporation in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $90.78.

Westinghouse Air Brake Technologies Corporation (NYSE WAB) opened at 75.05 on Friday. The stock has a 50 day moving average of $71.85 and a 200 day moving average of $80.02. Westinghouse Air Brake Technologies Corporation has a one year low of $69.20 and a one year high of $93.81. The firm has a market cap of $7.20 billion, a PE ratio of 26.41 and a beta of 1.05.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.14). The company had revenue of $932.25 million during the quarter, compared to the consensus estimate of $1 billion. Westinghouse Air Brake Technologies Corporation had a return on equity of 13.07% and a net margin of 8.10%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. On average, equities analysts forecast that Westinghouse Air Brake Technologies Corporation will post $3.52 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the business. Karp Capital Management Corp bought a new stake in Westinghouse Air Brake Technologies Corporation during the first quarter valued at $2,928,000. Commonwealth Bank of Australia increased its stake in Westinghouse Air Brake Technologies Corporation by 15.8% during the second quarter. Commonwealth Bank of Australia now owns 168,495 shares of the transportation company’s stock valued at $15,416,000 after purchasing an additional 22,988 shares during the last quarter. Capital Counsel LLC NY increased its stake in Westinghouse Air Brake Technologies Corporation by 1.6% during the second quarter. Capital Counsel LLC NY now owns 869,836 shares of the transportation company’s stock valued at $79,590,000 after purchasing an additional 13,918 shares during the last quarter. Hikari Power Ltd increased its stake in Westinghouse Air Brake Technologies Corporation by 622.4% during the second quarter. Hikari Power Ltd now owns 171,200 shares of the transportation company’s stock valued at $15,665,000 after purchasing an additional 147,500 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Westinghouse Air Brake Technologies Corporation by 7.7% during the second quarter. Aperio Group LLC now owns 40,411 shares of the transportation company’s stock valued at $3,698,000 after purchasing an additional 2,877 shares during the last quarter.

About Westinghouse Air Brake Technologies Corporation

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.

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

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