Westinghouse Air Brake Technologies (WAB) Stock Rating Lowered by Zacks Investment Research

Westinghouse Air Brake Technologies (NYSE:WAB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

Other research analysts also recently issued reports about the stock. B. Riley restated a “neutral” rating on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $75.00 price target (up from $74.00) on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, October 25th. FBR & Co set a $85.00 price objective on shares of Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research report on Wednesday, October 25th. Deutsche Bank set a $85.00 price objective on shares of Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research report on Monday, August 14th. Finally, BidaskClub downgraded shares of Westinghouse Air Brake Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $87.75.

Westinghouse Air Brake Technologies (NYSE WAB) opened at $77.30 on Tuesday. 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 has a 52-week low of $69.20 and a 52-week high of $93.81. The stock has a market cap of $7,318.02, a PE ratio of 22.89, a PEG ratio of 1.90 and a beta of 1.08.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. Westinghouse Air Brake Technologies had a net margin of 7.04% and a return on equity of 11.85%. The company had revenue of $957.93 million for the quarter, compared to the consensus estimate of $947.18 million. During the same period last year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. research analysts anticipate that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current year.

In related news, VP David L. Deninno sold 1,917 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $76.10, for a total value of $145,883.70. Following the sale, the vice president now directly owns 56,131 shares in the company, valued at approximately $4,271,569.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert J. Brooks sold 3,500 shares of the firm’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 transaction, the director now directly owns 84,221 shares in the company, valued at approximately $6,540,602.86. The disclosure for this sale can be found here. Company insiders own 11.69% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC increased its stake in Westinghouse Air Brake Technologies by 15.7% during the 2nd 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 period. Capital Counsel LLC NY increased its stake in Westinghouse Air Brake Technologies by 1.6% during the 2nd 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 period. Williams Jones & Associates LLC increased its stake in Westinghouse Air Brake Technologies by 0.7% during the 2nd 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 period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Westinghouse Air Brake Technologies by 64.4% during the 2nd 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 period. Finally, Beck Mack & Oliver LLC increased its stake in Westinghouse Air Brake Technologies by 75.8% during the 3rd quarter. Beck Mack & Oliver LLC now owns 596,459 shares of the transportation company’s stock valued at $45,182,000 after buying an additional 257,150 shares during the period.

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About Westinghouse Air Brake Technologies

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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