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

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, October 18th. The firm currently has a $84.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.50% from the company’s current price.

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 commented on WAB. BidaskClub cut Westinghouse Air Brake Technologies Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Deutsche Bank AG set a $85.00 price target on Westinghouse Air Brake Technologies Corporation and gave the stock a “hold” rating in a research note on Monday, August 14th. FBR & Co restated a “marketperform” rating on shares of Westinghouse Air Brake Technologies Corporation in a research note on Tuesday, July 11th. Stifel Nicolaus restated a “hold” rating and set a $74.00 price target on shares of Westinghouse Air Brake Technologies Corporation in a research note on Friday, July 28th. Finally, Edward Jones cut Westinghouse Air Brake Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.75.

Shares of Westinghouse Air Brake Technologies Corporation (NYSE WAB) opened at 75.02 on Wednesday. Westinghouse Air Brake Technologies Corporation has a 12 month low of $69.20 and a 12 month high of $93.81. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 26.40 and a beta of 1.06. The stock’s 50 day moving average price is $74.77 and its 200 day moving average price is $79.70.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Westinghouse Air Brake Technologies Corporation had a return on equity of 11.85% and a net margin of 7.04%. The firm had revenue of $957.93 million for the quarter, compared to analysts’ expectations of $947.18 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. Analysts expect that Westinghouse Air Brake Technologies Corporation will post $3.53 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2017/10/27/zacks-investment-research-upgrades-westinghouse-air-brake-technologies-corporation-wab-to-buy.html.

A number of large investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC increased its holdings in Westinghouse Air Brake Technologies Corporation by 15.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,218,217 shares of the transportation company’s stock valued at $111,467,000 after buying an additional 165,735 shares during the last quarter. Capital Counsel LLC NY increased its holdings in Westinghouse Air Brake Technologies Corporation by 1.6% in the second quarter. Capital Counsel LLC NY now owns 869,836 shares of the transportation company’s stock valued at $79,590,000 after buying an additional 13,918 shares during the last quarter. Williams Jones & Associates LLC increased its holdings in Westinghouse Air Brake Technologies Corporation by 0.7% in the second quarter. Williams Jones & Associates LLC now owns 634,323 shares of the transportation company’s stock valued at $58,041,000 after buying an additional 4,275 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Westinghouse Air Brake Technologies Corporation by 64.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 623,437 shares of the transportation company’s stock valued at $57,044,000 after buying an additional 244,119 shares during the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID increased its holdings in Westinghouse Air Brake Technologies Corporation by 0.6% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 285,430 shares of the transportation company’s stock valued at $26,117,000 after buying an additional 1,605 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.

Get a free copy of the Zacks research report on Westinghouse Air Brake Technologies Corporation (WAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Westinghouse Air Brake Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westinghouse Air Brake Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply