Westinghouse Air Brake Technologies (WAB) Now Covered by Analysts at Seaport Global Securities

Seaport Global Securities initiated coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research report released on Thursday, January 4th, Marketbeat Ratings reports. The firm issued a buy rating and a $90.00 price target on the transportation company’s stock.

WAB has been the topic of several other reports. Zacks Investment Research raised shares of Westinghouse Air Brake Technologies from a sell rating to a buy rating and set a $84.00 price target on the stock in a research note on Wednesday, October 18th. KeyCorp reaffirmed a buy rating and issued a $100.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Sunday, September 17th. Cowen initiated coverage on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, December 13th. They issued an outperform rating and a $90.00 target price on the stock. Berenberg Bank initiated coverage on shares of Westinghouse Air Brake Technologies in a research report on Thursday, September 7th. They set a hold rating and a $81.00 price objective on the stock. Finally, Buckingham Research reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $87.44.

Westinghouse Air Brake Technologies (WAB) opened at $85.20 on Thursday. Westinghouse Air Brake Technologies has a 1 year low of $69.20 and a 1 year high of $93.81. The company has a market cap of $8,065.86, a P/E ratio of 25.23, a PEG ratio of 1.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.55 and a quick ratio of 1.03.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, beating 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 net margin of 7.04% and a return on equity of 11.85%. Westinghouse Air Brake Technologies’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 earnings per share. analysts predict that Westinghouse Air Brake Technologies will post 3.48 EPS for the current fiscal year.

In other news, Director Robert J. Brooks sold 3,500 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Deninno sold 1,917 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $76.10, for a total transaction of $145,883.70. Following the sale, the vice president now directly 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. Insiders own 11.69% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tredje AP fonden increased its holdings in Westinghouse Air Brake Technologies by 15.7% in the 2nd quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock worth $249,000 after acquiring an additional 370 shares in the last quarter. Kingfisher Capital LLC increased its holdings in Westinghouse Air Brake Technologies by 3.0% in the 2nd quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock worth $1,243,000 after acquiring an additional 392 shares in the last quarter. Tandem Investment Advisors Inc. increased its holdings in Westinghouse Air Brake Technologies by 0.7% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 68,342 shares of the transportation company’s stock worth $6,253,000 after acquiring an additional 474 shares in the last quarter. Fieldpoint Private Securities LLC increased its holdings in Westinghouse Air Brake Technologies by 49.4% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock worth $181,000 after acquiring an additional 790 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in Westinghouse Air Brake Technologies by 16.6% in the 2nd quarter. Eaton Vance Management now owns 14,082 shares of the transportation company’s stock worth $1,289,000 after acquiring an additional 2,000 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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