Westinghouse Air Brake Technologies Corp (NYSE:WAB) Receives Average Recommendation of “Hold” from Analysts

Shares of Westinghouse Air Brake Technologies Corp (NYSE:WAB) have received an average recommendation of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $87.11.

A number of brokerages have issued reports on WAB. ValuEngine raised shares of Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Goldman Sachs Group upgraded shares of Westinghouse Air Brake Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $84.00 to $89.00 in a research report on Wednesday, August 7th. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research note on Tuesday. They issued an “equal weight” rating and a $73.00 price target on the stock. Buckingham Research increased their price target on Westinghouse Air Brake Technologies from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wellington Shields lowered Westinghouse Air Brake Technologies from an “accumulate” rating to a “hold” rating in a research report on Thursday, July 11th.

Westinghouse Air Brake Technologies stock traded up $1.87 during trading hours on Thursday, reaching $72.25. 1,596,071 shares of the company’s stock traded hands, compared to its average volume of 2,157,897. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.31 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.32. Westinghouse Air Brake Technologies has a fifty-two week low of $61.00 and a fifty-two week high of $114.07. The firm’s 50 day moving average is $69.63 and its 200-day moving average is $70.95.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Westinghouse Air Brake Technologies had a net margin of 3.68% and a return on equity of 8.34%. Westinghouse Air Brake Technologies’s revenue was up 101.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 EPS. Analysts predict that Westinghouse Air Brake Technologies will post 4.16 EPS for the current year.

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

A number of large investors have recently modified their holdings of WAB. Williams Jones & Associates LLC raised its holdings in Westinghouse Air Brake Technologies by 36.9% in the first quarter. Williams Jones & Associates LLC now owns 721,867 shares of the transportation company’s stock worth $53,216,000 after purchasing an additional 194,724 shares during the period. Capital Bank & Trust Co grew 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 buying an additional 121,236 shares during the period. Thompson Investment Management Inc. grew 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 buying an additional 53,362 shares during the period. United Capital Financial Advisers LLC increased its position 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 buying an additional 51,814 shares in the last quarter. Finally, Beddow Capital Management Inc. increased its position in shares of Westinghouse Air Brake Technologies by 432.2% in the 2nd quarter. Beddow Capital Management Inc. now owns 57,987 shares of the transportation company’s stock valued at $4,161,000 after buying an additional 47,092 shares in the last quarter. 92.47% of the stock is owned by hedge funds and other 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.

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

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