Westinghouse Air Brake Technologies Corporation (NYSE:WAB) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) from a sell rating to a hold rating in a research note issued to investors on Thursday, July 13th.

According to Zacks, “Wabtec Corporation is one of North America’s largest providers of value-added, technology-based products and services for the rail industry. Through its subsidiaries, the company manufactures a full range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance. (PRESS RELEASE) “

A number of other research analysts have also recently weighed in on WAB. Wellington Shields upgraded shares of Westinghouse Air Brake Technologies Corporation from a hold rating to a gradually accumulate rating in a research report on Friday, April 7th. KeyCorp upgraded shares of Westinghouse Air Brake Technologies Corporation from a sector weight rating to an overweight rating and set a $100.00 price target on the stock in a report on Tuesday, April 25th. Wolfe Research cut shares of Westinghouse Air Brake Technologies Corporation from an outperform rating to a market perform rating in a report on Wednesday, April 26th. Stifel Nicolaus upped their price objective on shares of Westinghouse Air Brake Technologies Corporation from $90.00 to $92.00 and gave the stock a buy rating in a research note on Friday, April 28th. Finally, BidaskClub raised shares of Westinghouse Air Brake Technologies Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Westinghouse Air Brake Technologies Corporation has an average rating of Hold and an average target price of $92.63.

Shares of Westinghouse Air Brake Technologies Corporation (WAB) traded up 0.75% during midday trading on Thursday, reaching $72.81. 1,066,628 shares of the company’s stock traded hands. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 25.62 and a beta of 1.03. Westinghouse Air Brake Technologies Corporation has a one year low of $71.00 and a one year high of $93.81. The company has a 50-day moving average of $84.12 and a 200-day moving average of $82.70.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.14. Westinghouse Air Brake Technologies Corporation had a net margin of 8.10% and a return on equity of 13.07%. The firm had revenue of $932.25 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $1.00 EPS. The company’s revenue was up 28.8% on a year-over-year basis. Equities research analysts anticipate that Westinghouse Air Brake Technologies Corporation will post $3.57 EPS for the current year.

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In related news, Director Brian Hehir sold 2,234 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $80.11, for a total value of $178,965.74. Following the completion of the transaction, the director now directly owns 24,905 shares of the company’s stock, valued at approximately $1,995,139.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.69% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Westinghouse Air Brake Technologies Corporation by 15.2% in the second quarter. IFP Advisors Inc now owns 1,913 shares of the transportation company’s stock valued at $175,000 after buying an additional 252 shares during the last quarter. Tredje AP fonden bought a new position in shares of Westinghouse Air Brake Technologies Corporation during the first quarter valued at approximately $183,000. Moody Lynn & Lieberson LLC bought a new position in shares of Westinghouse Air Brake Technologies Corporation during the second quarter valued at approximately $520,000. Buffington Mohr McNeal raised its position in shares of Westinghouse Air Brake Technologies Corporation by 34.3% in the first quarter. Buffington Mohr McNeal now owns 9,980 shares of the transportation company’s stock valued at $778,000 after buying an additional 2,550 shares during the last quarter. Finally, Eaton Vance Management raised its position in shares of Westinghouse Air Brake Technologies Corporation 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 buying an additional 2,000 shares during the last quarter.

Westinghouse Air Brake Technologies Corporation 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.

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