Westinghouse Air Brake Technologies (WAB) Coverage Initiated at Seaport Global Securities

Analysts at Seaport Global Securities assumed coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research report issued on Thursday. The brokerage set a “buy” rating and a $90.00 price target on the transportation company’s stock. Seaport Global Securities’ price target indicates a potential upside of 9.98% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Berenberg Bank initiated coverage on Westinghouse Air Brake Technologies in a research note on Thursday, September 7th. They set a “hold” rating and a $81.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and issued a $74.00 target price on shares of Westinghouse Air Brake Technologies in a report on Tuesday, September 12th. Cowen initiated coverage on Westinghouse Air Brake Technologies in a report on Wednesday, December 13th. They issued an “outperform” rating and a $90.00 target price for the company. Finally, KeyCorp restated a “buy” rating and issued a $100.00 target price on shares of Westinghouse Air Brake Technologies in a report on Sunday, September 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.44.

Shares of Westinghouse Air Brake Technologies (NYSE:WAB) opened at $81.83 on Thursday. The firm has a market capitalization of $7,860.00, a price-to-earnings ratio of 31.11, a PEG ratio of 1.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.55. Westinghouse Air Brake Technologies has a one year low of $69.20 and a one year high of $93.81.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. The business had revenue of $957.93 million during the quarter, compared to analyst estimates of $947.18 million. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The company’s revenue was up 41.8% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS. research analysts anticipate that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current year.

In other news, Director Robert J. Brooks sold 3,500 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $77.66, for a total value of $271,810.00. Following the completion of the sale, the director now owns 84,221 shares in the company, valued at $6,540,602.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Deninno sold 1,917 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $4,271,569.10. The disclosure for this sale can be found here. 11.69% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia raised its holdings in shares of Westinghouse Air Brake Technologies by 15.8% during the second quarter. Commonwealth Bank of Australia now owns 168,495 shares of the transportation company’s stock worth $15,416,000 after acquiring an additional 22,988 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Westinghouse Air Brake Technologies by 92.6% during the third quarter. Tredje AP fonden now owns 5,240 shares of the transportation company’s stock worth $397,000 after acquiring an additional 2,520 shares in the last quarter. Capital Counsel LLC NY raised its holdings in shares of Westinghouse Air Brake Technologies by 1.6% during the second quarter. Capital Counsel LLC NY now owns 869,836 shares of the transportation company’s stock worth $79,590,000 after acquiring an additional 13,918 shares in the last quarter. Harvey Investment Co. LLC raised its holdings in shares of Westinghouse Air Brake Technologies by 7.4% during the third quarter. Harvey Investment Co. LLC now owns 177,710 shares of the transportation company’s stock worth $13,462,000 after acquiring an additional 12,220 shares in the last quarter. Finally, FDx Advisors Inc. raised its holdings in shares of Westinghouse Air Brake Technologies by 18.8% during the third quarter. FDx Advisors Inc. now owns 22,302 shares of the transportation company’s stock worth $1,689,000 after acquiring an additional 3,524 shares in the last quarter.

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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.

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

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