Zacks Investment Research Lowers Westinghouse Air Brake Technologies Corporation (WAB) to Hold

Zacks Investment Research cut shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Wabtec Corporation is one of North America’s largest provider of value-added, technology-based products and services for freight rail, passenger transit and select industrial markets worldwide. Through its subsidiaries, the company manufactures a broad range of products for end markets such as locomotives, freight cars, passenger transit vehicles and power generation equipment, for both original equipment and aftermarket applications. Wabtec also builds new locomotives up to 5,400 horsepower, and provides aftermarket maintenance and services for locomotives and passenger transit vehicles. Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris. “

WAB has been the topic of several other research reports. Stifel Nicolaus lowered Westinghouse Air Brake Technologies Corporation from a buy rating to a hold rating and set a $92.00 price target on the stock. in a research report on Monday, July 17th. They noted that the move was a valuation call. KeyCorp reaffirmed a buy rating and set a $100.00 price target on shares of Westinghouse Air Brake Technologies Corporation in a research report on Sunday, September 17th. BidaskClub lowered Westinghouse Air Brake Technologies Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Berenberg Bank initiated coverage on Westinghouse Air Brake Technologies Corporation in a research report on Thursday, September 7th. They set a hold rating and a $81.00 price target on the stock. Finally, Buckingham Research cut their price target on Westinghouse Air Brake Technologies Corporation from $100.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $87.75.

Westinghouse Air Brake Technologies Corporation (WAB) opened at 76.56 on Friday. The firm has a market cap of $7.35 billion, a P/E ratio of 26.94 and a beta of 1.06. Westinghouse Air Brake Technologies Corporation has a one year low of $69.20 and a one year high of $93.81. The company has a 50-day moving average of $75.29 and a 200 day moving average of $79.61.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last released its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. The company had revenue of $957.93 million for the quarter, compared to analyst estimates of $947.18 million. Westinghouse Air Brake Technologies Corporation had a return on equity of 11.85% and a net margin of 7.04%. The firm’s revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities research analysts expect that Westinghouse Air Brake Technologies Corporation will post $3.47 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in WAB. IFP Advisors Inc increased its holdings 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 purchasing an additional 252 shares during the period. Tredje AP fonden increased its holdings in shares of Westinghouse Air Brake Technologies Corporation by 15.7% in the second quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock valued at $249,000 after purchasing an additional 370 shares during the period. Moody Lynn & Lieberson LLC acquired a new position in shares of Westinghouse Air Brake Technologies Corporation in the second quarter valued at approximately $520,000. Buffington Mohr McNeal increased its holdings in shares of Westinghouse Air Brake Technologies Corporation by 1.9% in the second quarter. Buffington Mohr McNeal now owns 10,165 shares of the transportation company’s stock valued at $930,000 after purchasing an additional 185 shares during the period. Finally, Kingfisher Capital LLC increased its holdings in shares of Westinghouse Air Brake Technologies Corporation by 3.0% in the second quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock valued at $1,243,000 after purchasing an additional 392 shares during the period.

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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